NOTIFICATION NO. 88/2013

DATED 27-12-2013

S.O. 3839(E) - Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O. 1649(E) dated 12-7-2010, 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 26 "School Project (renovation, construction, major repairs of Zila Parishad/Municipal Corporation, NGO's and Gram Panchayat's school)" by "Empathy Foundation, 405, Krushal Commercial Complex, above Shopper's Stop, G.M. Road, Chembur (West), Mumbai 400 089", as an eligible project or scheme at the estimated cost of ₹ 7.60 crore, for a period of three years beginning with financial year 2010-11.

And whereas the said project or scheme is likely to extend beyond three 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 a further period of three years and enhancement in the estimated cost;

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 for "School Project (renovation, construction, major repairs of Zila Parishad/Municipal Corporation, NGO's and Gram Panchayat's school)" which is being carried out by "Empathy Foundation, 405, Krushal Commercial Complex, above Shopper's Stop, G.M. Road, Chembur (West), Mumbai- 400 089" as an eligible project or scheme for a further period of three years commencing from the financial year 2013-14 i.e., 2013-14, 2014-15 and 2015-16.

(b)          further amends the said notification number S.O. 1649(E) dated 12-7-2010, to the following effect, namely :-

In the said notification, in the Table against serial number 26, in column (4), relating to maximum amount of cost to be allowed as deduction under section 35AC, for the letters, figures and words "Rs.7.60 crore", the letters, figures and words "Rs. 18.42 crore" shall be substituted.

[F.NO.27015/3/2013-SO (NAT.COM)]