Exemption u/s 35AC - Central Govt had specified for development of land and construction of 5000 houses- 'Amrita Kuteeram' all over India, by Mata Amritanandamayi Charitable Trust as an eligible project or scheme - Amendment in N. No. S.O.698(E) dated the 3rd October, 1997 - 269/2003- 1257(E) - Income Tax

Exemption under section 35AC extended to Amrita Kuteeram scheme; eligibility prolonged and approved project cost increased.

Central Government specifies the Amrita Kuteeram project by Mata Amritanandamayi Charitable Trust as eligible for deduction under Section 35AC for a further three years beginning with assessment year 2004-2005, following the National Committee's recommendation under subrule (5) of rule 11M. The notification amends S.O.698(E) by substituting the earlier approved maximum project cost with a higher approved cost for calculation of allowable deduction under section 35AC.