Notification Under Section 35AC in respect of the swimmers and modern gymnasium at Basavanagudi, Near National College, Bangalore and running by Basavanagudi Aquatic Centre, Shankar Prasad, Number 34, Shankar Mutt Road, Basavanagudi, Bangalore
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Eligible project specification extended for Basavanagudi aquatic centre under tax provision, preserving approved project cost.
The Central Government, on recommendation of the National Committee and pursuant to the Explanation to Section 35AC and rule 11M of the Income-tax Rules, has specified the Basavanagudi Aquatic Centre swimming pool complex and associated facilities as an eligible project for a further three-year period commencing from the financial year 2010-2011, noting proper execution, likely project duration beyond fifteen years, and preserving the previously approved project cost of Rs. 100.30 lakhs.