Exemption u/s 35AC - of the Income-tax Act, 1961, the Central Government had specified for Running of Foundling-cum-adoption centre for orphaned and destitute children and abandoned babies at Raja Krishna Rao Road, Teynampet, Chennai by Karna Prayag Trust - 005/2007 [F.No. NC-274/3/2007] - Income Tax Act, 1961
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Exemption under section 35AC extended for foundling cum adoption centre; project eligibility continued and cost ceiling increased. The Central Government specifies the Karna Prayag Trust's foundling cum adoption centre at Raja Krishna Rao Road, Teynampet, Chennai as an eligible project under Section 35AC for a further three years beginning 2007 08, and amends the original notification to raise the maximum allowable project cost for deduction to Rs. 120.00 lakhs including a corpus fund of Rs. 40.00 lakhs.
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Provisions expressly mentioned in the judgment/order text.
Exemption under section 35AC extended for foundling cum adoption centre; project eligibility continued and cost ceiling increased.
The Central Government specifies the Karna Prayag Trust's foundling cum adoption centre at Raja Krishna Rao Road, Teynampet, Chennai as an eligible project under Section 35AC for a further three years beginning 2007 08, and amends the original notification to raise the maximum allowable project cost for deduction to Rs. 120.00 lakhs including a corpus fund of Rs. 40.00 lakhs.
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