Notification No.138/2015 [F.No.V.27015/1/2015-SO(NAT.COM)] / SO 1484(E) : Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 - Eligible Projects or Schemes, Expenditure on - Notified Eligible Projects or Schemes - Sankar Foundation, Visakhapatnam
The document, verbatim
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Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 - Eligible Projects or Schemes, Expenditure on - Notified Eligible Projects or Schemes - Sankar Foundation, Visakhapatnam
Notification No.138/2015 [F.No.V.27015/1/2015-SO(NAT.COM)] / SO 1484(E)
2015-06-04T00:00:00Z
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Notification No.138/2015 [F.No.V.27015/1/2015-SO(NAT.COM)] / SO 1484(E)
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SECTION 35AC, READ WITH EXPLANATION (b) THERETO, OF THE INCOME-TAX ACT, 1961 - ELIGIBLE PROJECTS OR SCHEMES, EXPENDITURE ON - NOTIFIED ELIGIBLE PROJECTS OR SCHEMES - SANKAR FOUNDATION, VISAKHAPATNAM
NOTIFICATION NO.138/2015 [F.NO.V.27015/1/2015-SO(NAT.COM)]/SO 1484(E) , DATED 4-6-2015
Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 2366(E), dated 4.10.2012 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 13, "Running of Eye Hospital Projects, purchase of Equipment and Building Maintenance etc." by "Sankar Foundtion, 19-50, Sri Sai Madhava Nagar, Naidu Thota, Vepagunta, Visakhapatnam-530047", as an eligible project or scheme, at the estimated cost of Rs. 3770.60 lakh for a period of three years ending with financial year 2014-15;
And whereas the said project or scheme is likely to extend beyond 3 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 11M of the Income-tax Rules, 1962 for specifying the said project or scheme for a further period of three years.
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 "Running of Eye Hospital Projects, purchase of Equipment and Building Maintenance etc.", which is being carried out by "Sankar Foundtion, 19-50, Sri Sai Madhava Nagar, Naidu Thota, Vepagunta, Visakhapatnam-530047", without any change in the approved cost of Rs. 3770.60 lakh, for a further period of three years commencing with financial years 2015-16 i.e 2015-16, 2016-17 & 2017-18.
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