Extension and Cost Enhancement for Him Jyoti School under Section 35AC

म0 खन लाल मीना, उप सिचव(रा <ीय सिमित)

NOTIFICATION

New Delhi, the 15th June, 2015

S.O. 1578 (E).—Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O.1822(E) dated the 26th October, 2006, 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 7, “Him Jyoti School” by “The Himalayan School Society, 15 A Amrit Kaur Road, Dehradun, Uttranchal – 248001”, as an eligible project or scheme for a period of three years beginning with financial year 2006-2007; which was extended further vide notification number S.O. 240(E) dated 21st January, 2009 for a period of three years beginning with financial year 2009-10 and which was extended further vide notification number S.O. 667(E) dated 12th March, 2013 for a period of three years beginning with financial year 2012-13;

And whereas by notification number S.O. 240(E) dated 21st January, 2009 the estimated cost was enhanced from Rs. 4 Crore to Rs. 16.60 crore (including a corpus fund of Rs. 12.40 crore);

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

And whereas the project cost is likely to enhance from Rs. 16.60 crore (including a corpus fund of Rs. 12.40 crore) to Rs. 22.00 crore (including a corpus fund of Rs. 16.40 crore);

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 extending the said project or scheme for a further period of three years and amending the project cost from Rs 16.60 crore (including a corpus fund of Rs. 12.40 crore) to Rs. 22.00 crore (including a corpus fund of Rs. 16.40 crore);

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 “Him Jyoti School”, which is being carried out by “The Himalayan School Society, 15 A Amrit Kaur Road, Dehradun, Uttranchal – 248001”, for a further period of three years commencing with financial year 2015-16, i.e. 2015-16, 2016-17 and 2017-18 and;

• (b) further amends the said notification S.O. number S.O.1822(E) dated the 26th October, 2006, to the following effect, namely :-

In the said notification, in the Table against serial number 7, in column (4) maximum amount of cost to be allowed as deduction under section 35 AC of Income Tax Act, 1961, for the letters, figures and word “from Rs 16.60 crore (including a corpus fund of Rs. 12.40 crore)”, the letters, figures and word “Rs. 22.00 crore (including a corpus fund of Rs. 16.40 crore)” shall be substituted.

[No. 149/2015 / F.No.V. 27015/1/2015-SO (NAT.COM)]

MAKKHAN LAL MEENA, Dy. Secy. (National Committee)