NOTIFICATION

INCOME-TAX ACT

Section 35AC, sub-section (1) read with Explanation (b) thereto, of the Income-tax Act, 1961 - Eligible projects or schemes, expenditure on - Notified eligible projects or schemes

Notification No. 69/2009 [F.No. NC-274/10/2009]/S.O. 1261(E)

Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O.1237(E), dated the 28th October, 2003, 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, Construction of school and dispensary buildings, purchase of furniture, equipments and integrated development of the poor and marginalized especially the women and children in Trikkadavoor by Shri C.J. Fernandez, Chooravilla Joseph Development Foundation, No. 54, Rest House Apartment, Rest House Road, Bangalore - 560001, as an eligible project or scheme for a period of three years beginning- with assessment year 2004-2005, which was extended further vide notification number S.O. 1597(E), dated the 14th November, 2005 for a period of two years beginning with financial year 2006-2007 and which was extended further vide notification number S.O. 1309(E), dated the 4 June, 2008 for a period of three years beginning with financial year 2008-2009;

And whereas the said project or scheme is likely to extend beyond eight 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 enhancing the project cost from Rs. 605.23 lakh including a corpus fund of Rs. 320.00 lakh to Rs. 1622.76 lakh including a corpus fund of Rs. 560.00 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 specifies the scheme or project Construction of school and dispensary buildings, purchase of furniture, equipments and integrated development of the poor and marginalized especially the women and children in Trikkadavoor, which is being carried out by Shri C.J. Fernandez, Chooravilla Joseph Development Foundation, No. 54, Rest House Apartment, Rest House Road, Bangalore - 560001;

(b) further amends the said notification number S.O.1237(E), dated the 28th October, 2003, to the following effect, namely :In the said notification, in the Table against serial number 9, in column (4) relating to maximum amount of cost to be allowed as deduction under section 35AC, for the letters, figures and word Rs. 605.23 lakh including a corpus fund of Rs. 320.00 lakh, the letters, figures and word Rs.1622.76 lakh including a corpus fund of Rs. 560.00 lakh shall be substituted.