Notification u/s 35AC - Notifies the scheme Srikakulam Vayodhikula Sangham - 39/2012 - Income Tax

Section 35AC eligibility extended: Srikakulam old age home project retains notified status for a further three-year period.

The Central Government notifies the construction of an old age home complex at Srikakulam by Srikakulam Vayodhikula Sangham as an eligible project for tax incentive purposes and extends its notified status for three financial years commencing 2012-13, maintaining the then-approved project cost and corpus fund; this follows the National Committee's recommendation based on proper execution and the project's extended duration, and preserves applicability of existing Income-tax Rules compliance requirements.