NOTIFICATION NO. 94/2013

DATED 27-12-2013

S.O. 3845(E) - Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 2370 (E) dated 03.10.2008, 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 22, "Reconstruction and Development of School & Hostel Building" by "Gram Nirman Kelavani Mandal, At & PO Thava, Taluka Valia, District Bharuch-393135 Gujarat", at the estimated cost of ₹ 1.83 crore, as an eligible project or scheme for a period of three years ending with financial year 2011-12.

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 "Reconstruction and Development of School & Hostel Building", which is being carried out by "Gram Nirman Kelavani Mandal, At & PO Thava, Taluka Valia, District Bharuch-393135 Gujarat", as an eligible project or scheme for a further period of three years beginning with financial years, 2012-13 i.e. 2012-13, 2013-14 and 2014-15, with the direction that as the financial year 2012-13 has already lapsed, no certificate under section 35AC of the Income-tax Act, 1961 would be issued for the financial year 2012-13;

(b)  further amends the said notification number S.O. 2370 (E) dated 03.10.2008 to the following effect, namely:-

In the said notification, in the Table against serial number 22, in column (4), relating to maximum amount of cost to be allowed as deduction under section 35AC, for the letters, figures and words "Rs.1.83 crore", the letters, figures and words "Rs.5.72 crore" shall be substituted.

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