Exemption u/s 35AC - Central Govt. approved Thrombosis Research Institute as an eligible project or scheme - S.O. 1848 (E) - Income Tax

Exemption u/s 35AC - Central Govt. approved Thrombosis Research Institute as an eligible project or scheme MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi , the 25th July, 2008 S.O. 1848 (E). In exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government, on the recommendations of the National Committee for Promotion of Social and Economic Welfare, hereby notifies the institution approved by the said National Committee, mentioned in column (2) of the Table below, and approves the eligible project or scheme specified to be carried on by the said institution and the estimated cost thereof as mentioned in column (3) of the said Table, and also specifies in the column (4) of the Table the maximum amount of such cost which may be allowed as deduction under the said section 35AC for the period of approval, namely: TABLE Serial Number Name of the Institution Project or scheme sad estimated cost thereof Maximum amount of cost to be allowed as deduction under section 35AC (1) (2) (3) (4) 1. Thrombosis Research Institute, 258/A, Narayana Hrudayalaya, Bommasandra Industrial Area, Bangalore. Development of a recombinant DNA based vaccine for prevention of heart disease and stroke, and simple and cheap urine based test for identifying high risk individuals at an early age. [Costs Rs. 42.38 crore.] Rs. 15.49 crore cumulatively for financial years 2008- 2009, 2009-10 and 2010-2011. II. This notification shall remain in force for a period of three years in relation to financial years 2008-2009, 2009-2010 and 2010-2011. [F. No. 47/2008/F.No. NC-274/09/2008] J.P. CHANDRAKAR, Director (National Committee)