Notification No.202/2015 [F.No.V.27015/2/2015-SO (NAT.COM)] / SO 1989(E) : Section 35AC of the Income-tax Act, 1961 - Eligible Projects or Schemes, Expenditure on - Notified Eligible Projects or Schemes - Sewa-Rural (Society for Education, Welfare and Action -Rural), Bharuch

SECTION 35AC OF THE INCOME-TAX ACT, 1961 - ELIGIBLE PROJECTS OR SCHEMES, EXPENDITURE ON - NOTIFIED ELIGIBLE PROJECTS OR SCHEMES - SEWA-RURAL (SOCIETY FOR EDUCATION, WELFARE AND ACTION -RURAL), BHARUCH

NOTIFICATION NO.202/2015 [F.NO.V.27015/2/2015-SO (NAT.COM)]/SO 1989(E), DATED 20-7-2015

Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 228(E) dated the 17th March, 1994, 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 6, " Integrated Rural Development through health and medical services for rural poor and tribals, vocational training to tribals and rural poor between age 15 to 35 years for poverty alleviation, income generation activities for development of woman, promotion of gramodyog (cottage industries) for poverty alleviation and help to rural poor for constructing low cost houses" by "SEWA-Rural (Society for Education, Welfare and Action-Rural), At & Post Office Jhagadia, District Bharuch-393110", as an eligible project or scheme for a period of three years beginning with assessment year 1994-1995; which was extended further vide notification number S.O. 403(E) dated the 6th June, 1996 for a period of three years beginning with assessment year 1997-1998; which was extended further vide notification number S.O.748(E) dated the 10th September, 1999 for a period of three years beginning with assessment year 2000-2001; which was extended further vide notification number S.O.986(E) dated the 10th September, 2002 for a period of three years beginning with assessment year 2003-2004; which was extended further vide notification number S.O.508(E) dated 4th April, 2006 for period of three years beginning with financial year 2005-2006; which was extended further vide notification number S.O. 1297(E) dated 4th June, 2008 for a period of three years beginning with financial year 2008-09 and which was further extended vide notification number S.O.1383(E) dated 14.6.2011 for a period of three years ending with financial year 2013-14 and which was further extended vide notification number S.O.437(E) dated 11.02.2015 for a period of three years ending with financial year 2016-17;

And whereas by notification number S.O.986(E) dated the 10th September, 2002 the estimated cost was enhanced from Rs. 418.50 lakh to Rs.518.50 lakh including a corpus find of Rs.100.00 lakh and whereas by notification number S.O.1383(E) dated 14.6.2011 the project cost was enhanced from 'Rs.518.50 lakh including corpus fund of Rs.100 lakh' to 'Rs.918., 45 lakh including corpus fund of Rs. 205 lakh' and the project cost was further enhanced from 'Rs.918.,45 lakh including corpus fund of Rs.205 lakh to Rs. 2297 lakh including corpus fund of Rs. 205 lakh vide notification number S.O. 437(E) dated 11.02.2015;

And whereas the project cost of Rs. 2297 lakh including corpus fund of Rs. 205 lakh is likely to be amended as Rs.2297 lakh including corpus fund of Rs.498 lakh;

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 amending the project cost from Rs. 2297 lakh including corpus fund of Rs.205 lakh to Rs.2297 lakh including corpus fund of Rs.498 lakh for the approved period i.e. upto financial years 2016-17;

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 amends the said notification number S.O.228(E) dated the 17th March, 1994, to the following effect, namely:—

In the said notification, in the Table against serial number 6, in column (4), relating to maximum cost to be allowed as deduction under Section 35AC, for the letters, figures and word "Rs. 2297 lakh including a corpus fund of Rs. 205 lakh" the letters, figures and word "Rs. 2297 lakh including corpus fund of Rs. 498 lakh" shall be substituted.

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