Notification No.174/2015 [F.No.V.27015/2/2015-SO (NAT.COM)] / SO 1961(E) : Section 35AC of the Income-tax Act, 1961 - Eligible Projects or Schemes, Expenditure on - Notified Eligible Projects or Schemes - Gujarat Cancer Society, Ahmedabad

SECTION 35AC OF THE INCOME-TAX ACT, 1961 - ELIGIBLE PROJECTS OR SCHEMES, EXPENDITURE ON - NOTIFIED ELIGIBLE PROJECTS OR SCHEMES - GUJARAT CANCER SOCIETY, AHMEDABAD

NOTIFICATION NO.174/2015 [F.NO.V.27015/2/2015-SO (NAT.COM)]/SO 1961(E), DATED 20-7-2015

Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O.850(E) dated the 21st September, 2000, 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 1, "Project for free treatment for cancer patients at New Civil Hospital Campus, Asarwa, Ahmedabad-380016, Gujarat" by "The Gujarat Cancer Society, New Civil Hospital Campus, Asarwa, Ahmedabad-380 016, Gujarat", as an eligible project or scheme for a period of three years beginning with assessment year 2001-2002, which was extended further vide notification number S.O.1249(E) dated the 30th October, 2003 for a period of three years beginning with assessment year 2004-2005; which was extended further vide notification number S.O.1840(E) dated the 26th October, 2006 for a period of three years beginning with financial year 2006-2007; which was extended further vide notification S.O.No. 2041(E) dated 6th August, 2009 for a period of three years beginning with the financial year 2009-10 and which was extended further vide notification S.O.No. 1095(E) dated 14th May, 2012 for a period of three years beginning with the financial year 2014-15;

And whereas by notification number S.O.1146(E) dated the 16th July, 2007 the estimated cost was enhanced from Rs.611.00 lakh to Rs. 860.00 lakh and vide notification number S.O.2041(E) dated 6th August, 2009 the estimated cost was further enhanced from Rs. 860.00 lakh to Rs. 1110 lakh.

And whereas the said project or scheme is likely to extend beyond fifteen years;

And whereas the project cost is likely to enhance from Rs. 1110 lakh to Rs. 1360 lakh;

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 and amending the project cost from Rs. 1110 lakh to Rs. 1360 lakh;

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), - (a) hereby notifies the scheme or project "Project for free treatment for cancer patients at New Civil Hospital Campus, Asarwa, Ahmedabad-380016, Gujarat", which is being carried out by "The Gujarat Cancer Society, New Civil Hospital Campus, Asarwa, Ahmedabad-380 016", as an eligible project or Scheme for a further period of three years beginning with the financial year 2015-16 i.e. 2015-16, 2016-17 and 2017-18;

(b) further amends the said notification number S.O. 850(E) dated the 21st September, 2000, to the following effect, namely:—

In the said notification, in the Table against serial number 1, in column (4), relating to maximum to be allowed as deduction under section 35AC of Income Tax Act, 1961, for the letters, figures and word "Rs. 1110 lakh" the letters, figures and word "Rs. 1360 lakh" shall be substituted.

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