Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had specified for Literacy project of running 2890 One Teacher Schools (OTS) at 2890 tribal areas in 6 States, by Friends of the Tribal Society

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..... d specified for Literacy project of running 2890 One Teacher Schools (OTS) at 2890 tribal areas in 6 States, by Friends of the Tribal Society NOTIFICATION NO. 115/2007, DATED 29-3-2007 S.O. 478(E) - Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 901(E), dated the 20 th September, 2001, issued under sub-section (1) read .....

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..... project or scheme is being executed properly, made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules, 1962 for specifying the said project or scheme for a further period of three years and amending the project of running from 2890 schools to 8030 schools and enhancing the project cost from ₹ 8.67 crore to ₹ 16.50 crore; NOW; THEREFORE , the Central Gov .....

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..... ted cost thereof, for the figures and word 2890 schools , the figures and word 8030 schools shall be substituted; (ii) in column (4), relating to maximum amount of cost to be allowed as deduction under section 35AC, for the letters, figures and word ₹ 867.00 lakhs , the letters, figures and word ₹ 1650.00 lakhs shall be substituted. [F.No.NC-274/3/2007] - Notification Tax .....

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