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TMI BlogU/s. 35AC, IT ACT, 1961 - Eligible Projects or Schemes, Expenditure On - Karuna Setu Trust, Vadnagar, GujaratX X X X Extracts X X X X X X X X Extracts X X X X ..... n the Ministry of Finance (Department of Revenue) number S.O.96(E) dated the 11th February, 1999 , issued under clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961) , the Central Government had notified at serial number 5, Running of hospital, purchase of equipments and welfare activities at Vadnagar, Mehsana District, Gujarat by Karuna Setu Trust, Vadnagar- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hree years ending with financial year 2015-16; And whereas by notification number S.O.1120(E) dated the 24th October, 2002 the estimated cost was enhanced from ₹ 67.48 lakh to ₹ 142.03 lakh including a corpus fund of ₹ 50.00 lakh; vide notification number S.O.381(E) dated the 19th March 2004 the estimated cost was further enhanced from ₹ 142.00 lakh to ₹ 184.50 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ikely to extend beyond eighteen years; And, whereas, the National Committee for the 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 extending the said project or scheme for a further period of three years. However, the exemption ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -17, 2017-18 and 2018-19; (b) The exemption u/s 35AC will not apply to the funds received under Schedule VII of the Section 135 of the Companies Act and Companies (CSR) Rules 2014. [F.No.V. 27015/1/2016-SO (NAT.COM)] MAKKHAN LAL MEENA,Dy. Secy. (National Committee) - Notification Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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