Approval of Central Government u/s 35AC granted to various institutions

NOTIFICATION No. 2/2014

New Delhi, the 21st July, 2014

S.O. 1873(E).—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), the Central Government, on the recommendations of the National Committee for Promotion of Social and Economic Welfare, hereby notifies the institutions approved by the said National Committee, mentioned in column (2) of the Table below, and approves the eligible projects or schemes specified to be carried on by the said institutions and the estimated cost thereof as mentioned in column (3) of the said Table, and also specifies in the column (4) of the Table the maximum amount of such cost which may be allowed as deduction under the said Section 35AC for the period of approval, namely:—

TABLE

II. This notification shall remain in force for a period of three years in relation to financial years 2013-14, 2014-15 & 2015-16 in respect of the projects or schemes mentioned at serial number 1 of the Table above. Since the financial year 2013-14 has already lapsed, no exemption shall be allowed for the year 2013-14 under Section 35AC of the IT Act, 1961.

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