Notification Under Section 35AC in respect of lskcon Food Relief Foundation, Hare Krishna Land, Juhu, Mumbai - 13/2011 - Income Tax

Notification Under Section 35AC in respect of lskcon Food Relief Foundation, Hare Krishna Land, Juhu, Mumbai NOTIFICATION New Delhi, the 27 th April, 2011 S.O.854(E). Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 121(E) dated 12 th January, 2009, 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 7, Mid day meal project for students in the State of Madhya Pradesh by lskcon Food Relief Foundation, Hare Krishna Land, Juhu, Mumbai 400 049, as an eligible project or scheme for a period of two years beginning with financial year 2008-09; And whereas the said project or scheme is likely to extend beyond two years; And 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 11 M of the Income-tax Rules, 1962 for extending the said project or scheme for a further period of three years and amending the project cost from Rs. 4.72 crore to Rs. 12.14 crore; Now, therefore, the Central Government, 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), hereby notifies the scheme or project for Mid day meal project for students in the State of Madhya Pradesh is being carried out by Iskcon food Relief Foundation, Hare Krishna Land, Juhu, Mumbai 400 049, as an eligible project or scheme for a further period of three financial years commencing with 2010-11 i.e 2 010-11, 2011-12 2012-13 with a direction that as the financial year 2010-11 has already lapsed, hence no certificate under section 35 AC of Income Tax Act, 1961 shall be issued for the financial year 2010-11. (b) further amends the said notification number S.O 121 (E) dated the 12 th January, 2009, to the following effect, namely: In the said notification, in the Table against serial number 7, in column (4), relating to maximum amount of cost to be allowed as deduction under section of 35AC of Income Tax Act, for the letters, figures and word Rs. 4.72 crate the letters, figures and word Rs.12.14 crore shall be substituted. [No. 13/2011/ F. No. V-27015/1/2011-SO (NAT.COM) NAVB CHANDRA, Director (National Committee)