Exemption for 'Running of hospital, purchase of equipments and welfare activities at Vadnagar, Gujarat' by Karuna Setu Trust, Gujarat u/s 35AC of the Income-tax Act, 1961

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....t' by Karuna Setu Trust, Gujarat  u/s 35AC of the Income-tax Act, 1961 Notification No. SO 1298(E) [F. No. NC-274/08/2008] dated 4-6-2008 Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number SO 96(E), dated the February 11, 1999, issued under clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1....

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....pus fund of Rs. 50 lakh and vide notification number SO 381(E), dated the March 19, 2004 the estimated cost was further enhanced from Rs. 142 lakh to Rs. 182.50 lakh including a corpus fund of Rs. 50 lakh; And whereas the said project or scheme is likely to extend beyond nine years; And, whereas, the National Committee for the Promotion of Social and Economic Welfare, being satisfied that th....

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....ng with financial year 2007-08. However, since the financial year 2007-08 has already elapsed, the approval shall not be valid for financial year 2007-08 in respect of funds collected during this financial year and no certificate for exemption of donation under section 35AC(1) of the Income-tax Act, 1961 shall be issued in respect of the financial year 2007-08; and     &nbsp....