Exemption u/s 35AC the C. G. had specified for Construction of Shelter for the homeless by Mother Krishnabai Rural Development Trust, as an eligible project or scheme

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..... an eligible project or scheme NOTIFICATION No. 294/2006, dated 26-10-2006 Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O. 901(E), dated the 20th September, 2001, issued under 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 had speci .....

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..... d whereas the National Committee for Promotion of Social and Economic Welfare, being satisfied that the said 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 cost from "Rs. 130.00 lakhs" to "Rs. 200.00 lakhs; .....

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..... In the said notification, in the Table against serial number 5, in column (4), relating to maximum amount of cost to be allowed as deduction under section 35AC, for the letters, figures and word "Rs. 13 0.00 lakhs", the letters, figures and word "Rs. 200.00 lakhs" shall be substituted. [F. No. NC-274/03/2006] - Notification Tax Management India - taxmanagementindia - taxmanagement - taxmanag .....

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