Notification No.171/2015 [F.No.V.27015/2/2015-SO (NAT.COM)] / SO 1958(E) : Section 35AC of the Income-tax Act, 1961 - Eligible Projects or Schemes, Expenditure on - Notified Eligible Projects or Schemes - Udavum Karangal, Tamil Nadu

SECTION 35AC OF THE INCOME-TAX ACT, 1961 - ELIGIBLE PROJECTS OR SCHEMES, EXPENDITURE ON - NOTIFIED ELIGIBLE PROJECTS OR SCHEMES - UDAVUM KARANGAL, TAMIL NADU

NOTIFICATION NO.171/2015 [F.NO.V.27015/2/2015-SO (NAT.COM)]/SO 1958(E), DATED 20-7-2015

Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O. No.1052(E) dated 11th May, 2010, 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 specified at serial number 11 for "Rehabilitation of orphans and destitute" by "Udavum Karangal, No.460, N.S.K. Nagar, Arumbakkam, Chennai 600 106, Tamilnadu", at an estimated cost of Rs.11.97 crore, as an eligible project or scheme for a period of two financial years beginning with assessment year, 2010-11 and which was extended further vide notification number S.O. No. 465 (E) dated 16th March, 2012, for a period of three years ending with financial year 2014-15.

And whereas by notification number S.O. 3155(E) dated 17.10.2013 the estimated cost was enhanced from Rs. 11.97 crore to Rs. 28.26 crore;

And whereas the said project or scheme is likely to extend beyond five 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 extending 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 "Rehabilitation of orphans and destitute" which is being carried out by "Udavum Karangal, No.460, N.S.K. Nagar, Arumbakkam, Chennai 600 106, Tamilnadu", without any change in the approved cost of Rs. 28.26 crore, as an eligible project or scheme for a further period of three years commencing with the financial year 2015-16 i.e 2015-16, 2016-17 & 2017-18.

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