Notification No.86/2015 [F.No.V.27015/4/2014-SO(NAT.COM)] / SO 456(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 - Impact India Foundation, Mumbai

SECTION 35AC, READ WITH EXPLANATION (b) THERETO, OF THE INCOME-TAX ACT, 1961 - ELIGIBLE PROJECTS OR SCHEMES, EXPENDITURE ON - NOTIFIED ELIGIBLE PROJECTS OR SCHEMES - IMPACT INDIA FOUNDATION, MUMBAI

NOTIFICATION NO.86/2015 [F.NO.V.27015/4/2014-SO(NAT.COM)]/SO 456(E), DATED 11-2-2015

Whereas by notification, of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 1275(E) dated the 9th December, 2002, 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 notified at serial number 1, "Disability Reduction Project" by "Impact India Foundation, NHAVA House, 65, Maharshi Karve Road, Mumbai - 400002", as an eligible project or scheme for a period of three years beginning with assessment year 2003-2004, which was extended further vide notification number S.O.1007(E) dated the 5th July, 2006 for a period of two years beginning with financial year 2006-2007 and which was extended further vide notification number S.O.2397(E) dated the 3rd October, 2008 for a period of three years beginning with financial year 2008-09 and which was further extended vide notification number S.O. 1870(E) dated 11.8.2011 for a period of three years ending with financial year 2013-14.

And whereas the said project or scheme is likely to extend beyond eleven 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 "Disability Reduction Project" being carried out by "Impact India Foundation, NHAVA House, 65, Maharshi Karve Road, Mumbai -400002", without any change in the approved cost of Rs.590.00 lakh, as an eligible project or scheme for a further period of three years Commencing with financial year 2014-15, i.e., 2014-15, 2015-16 and 2016-17.

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