U/s. 35AC, IT ACT, 1961 - Eligible Projects or Schemes, Expenditure On - Karuna Trust, Ahmedabad

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.... in the Ministry of Finance (Department of Revenue) number S.O.92(E) dated the 2nd February, 1996, issued under clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 5, "Conduct eye operation, polio operation camps, oxygen cylinder seva and ambulance service all over Gujarat" by "Karuna Trust, 22, Gautam Nagar, ....

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....ther extended vide notification number S.O. 3861(E) dated 27.12.2013 for a period of three years ending with financial year 2015-16; And whereas by notification number S.O.539(E) dated the 20th June, 2001 the estimated cost was enhanced from Rs. 94.00 lakh to Rs. 128.00 lakh; vide notification number S.O.1307(E) dated 4th June, 2008 the estimated cost was enhanced further from Rs. 128.00 lakh t....

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....e-tax Rules, 1962 for extending the said project or scheme for a further period of three years and for enhancing the project cost from Rs. 470 lakh including a corpus fund of Rs. 270 lakh to Rs. 500 lakh including a corpus fund of Rs. 270 lakh. However, the exemption u/s 35AC  will not apply to the funds received under Schedule VII of the Section 135 of the Companies Act and Companies (CSR) R....