Notification: S.O. 5(E)
Section(s) Referred: 54EA ,54EA(1)
Statute: INCOME TAX
Date of Issue: 2/1/1998
In exercise of the powers conferred by sub-section (1) of section 54EA of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies the following shares and debentures as the specified securities for the purpose of the said section, namely:---
Shares to be issued within a period of one year from the date of the publication of this notification by the Apollo Infrastructure Projects Finance Co. Ltd., not exceeding Rs. 120 crores transferable after three years.
[Notification No. 10491/F. No. 178/84/97-ITA-I
Notification: S.O. 10(E)
Date of Issue: 5/1/1998
In exercise of the powers conferred by sub-section (1) of section 54EA of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies the following shares and debentures as specified securities for the purpose of the said section, namely:---
(i) shares to be issued within a period of one year from the date of publication of this notification by the Ushdev International Ltd., Mumbai, not exceeding Rs. 2 crores transferable after three years;
(ii) debentures to be issued within a period of one year from the date of publication of this notification by the Ushdev International Ltd., Mumbai, not exceeding Rs. 10.04 crores transferable or convertible after three years;
[Notification No. 10499/F. No. 178/48/97-ITA-I
Notification: S.O. 11(E)
Section(s) Referred: 54EB ,54EB(1)
In exercise of the powers conferred by sub-section (1) of section 54EB of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies the following assets, as the long term specified assets, for the purpose of the said section, namely:---
(i) shares to be issued within a period of one year from the date of publication of this notification by the Ushdev International Ltd., Mumbai, not exceeding Rs. 5.09 crores transferable after seven years;
(ii) debentures to be issued within a period of one year from the date of publication of this notification by the Ushdev International Ltd., Mumbai, not exceeding Rs. 30.12 crores transferable or convertible after seven years;
[Notification No. 10500/F. No. 178/48/97-ITA-I
Notification: S.O. 12(E)
Section(s) Referred: 10 ,10(6C)
In exercise of the powers conferred by clause (6C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby declares that any income arising to the Rolls Royce Military Aero Engines Limited, a foreign company having its office at Moor Lane, Derby, DE24 8BJ, England, by way of fees for technical services received in pursuance of the agreement dated 27th March, 1996, entered into with the President of India for providing services in or outside India in projects connected with security of India shall not be taken into consideration for computing the total income of the said company under the Income-tax Act, 1961:
Provided that income on supply of spare parts in pursuance of the said agreement shall not be exempt under the said clause (6C) of section 10 and income on supply of said spare parts shall be taken into consideration for computing the total income of the said company.
[Notification No. 10494/F. No. 200/112/96-ITA-I
Notification: S.O. 8(E)
In exercise of the powers conferred by sub-section (1) of section 54EB of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies the following assets, as long term specified assets, for the purpose of the said section, namely:---
Shares to be issued by Tata Petrodyne Limited, a public company registered under the Indian Companies Act, 1956, and having its registered office at Jeevan Bharti, Tower No. 1, 10th Floor, 124, Connaught Circus, New Delhi-110 001, within one year from the date of publication of this notification, of an amount not exceeding Rs. 70 crores which are not transferable before seven years after its allotment.
[Notification No. 10497/F. No. 178/37/97-ITA-I
Notification: S.O. 9(E)
In exercise of the powers conferred by sub-section (1) of section 54EA of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies the following shares, as long term specified securities, for the purpose of the said section, namely:---
Shares to be issued by Tata Petrodyne Limited, a public company registered under the Indian Companies Act, 1956, and having its registered office at Jeevan Bharti, Tower No. 1, 10th Floor, 124, Connaught Circus, New Delhi-110 001, within one year from the date of the publication of this notification, of an amount not exceeding Rs. 69 crores which are not transferable before three years after its allotment.
[Notification No. 10498/F. No. 178/37/97-ITA-I
Notification: S.O.34(E)
Section(s) Referred: 295 ,295(1)
Date of Issue: 12/1/1998
In exercise of the powers conferred by sub-section (1) of section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely :---
This notification contains Amendment to Indian Income-tax Rules carried out on 12-1-1998 not reproduced here as it is already contained in the body of the rules itself
Notification: S.O.50(E)
Date of Issue: 16/1/1998
In exercise of the powers conferred by sub-section (1) of section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely :----
This notification contains Amendment to Indian Income-tax Rules carried out on 16-1-1998 not reproduced here as it is already contained in the body of the rules itself
Notification: S.O. 54(E)
Section(s) Referred: 35AC ,35AC(1) ,35AC(1)(b)
In exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government, on the recommendations of the National Committee, hereby approves the institutions specified in column (2) of the Table below and specifies the eligible projects or schemes and the estimated cost thereof as mentioned in column (3) of the said Table and also specifies in the column (4) of the said Table, the maximum amount of such cost which may be allowed as a deduction under the said section 35AC.
TABLE ------ Sl. Name of the Project or scheme and Maximum No. institutions estimated cost amount of cost thereof to be allowed as deduction under section 35AC ------ (1) (2) (3) (4) ------ 1. Gramshree Trust, 35 Swami Setting up of Balmandir and Rs. 10.91 lakhs Gunatit Nagar, Memnagar, to provide free uniforms, not
Ahmedabad books and books to the poor and needy high school students at Ahmedabad, Gujarat; likely to cost Rs. 10.91 lakhs.
2. Vivekananda Vidyapeeth, Land Development, construc- Rs. 63.00 lakhs Ramakrishna Paramhamsa tion of school and hostel Nagar, Kota, Raipur, buildings with all facilities Madhya Pradesh. and furnishing of Vivekananda Model Residential School at Kota, Raipur, Madhya Pradesh; likely to cost Rs. 370.38 lakhs.
3. Tribal Entrepreneurs Dhansiri River Bank Pro- Rs. 100.00 lakhs Association, Nabarbari, tection Project at Naharbari Dr. Epao Cottage, Dimapur, Nagaland; likely Dimapur, Nagaland to cost Rs. 197.96 lakhs
4. Sankat Nivaran Society, Relief work/welfare activities Rs. 200.00 lakhs Gujarat, C/o. Gujarat Chamber for people affected by natural as corpus of Commerce and Industries calamities all over India; Ashram Road, Ahmedabad. likely to cost Rs. 200.00 lakhs as corpus fund.
5. Blind Person's Association Construction of buildings for Rs. 187.50 lakhs 10/2, Shamsul Huda Road, Braille press, library, blind Calcutta. school, auditorium, dormitory purchase of Braille press and running of Braille press complex at Vidyapalli, Mal- anda, Mahinagar, South-24 parganas; likely to cost Rs. 201.50 lakh
6. Bhartiya Jain Sangathana, Rehabilition of children Rs. 1,72.51 lakhs C/o. Mutta Associates, 1184/4 affected by natural disaster Fergusson College Road, and orphans and destitute Dnyanshwar, Paduka Chowk children at Wagholi, Near Pune. Pune, Maharashtra; likely to cost Rs. 172.51 lakhs
7. Hindu Mission Hospital, Project "Annalakshmi" to pro- Rs. 30.00 lakhs 36, G.S.T. Road, Tambaram vide free food to hospitalised West, Chennai. poor patients at Hindu Mission Hospital, Chennai, Tamil Nadu.
8. Mascotte Development Social forestry project at Rs. 15.00 lakhs Society of Dimapur Chumukedima--Tenyiphe Chumukedima Village Villages, Nagaland; likely Block No. 4, Dimapur, cost Rs. 35.29 lakhs Nagaland.
9. Bangalore Golf Club, Common Effluent Tertiary Rs. 320.00 lakhs No. 2, Sankey Road Plant at Bangalore, Karna- High Grounds, Bangalore taka; likely to cost Rs. 370.00 lakhs.
10. Dakshin Gholepukuria Sonali Installation of 36 India Mark- Rs. 14.90 lakhs Sangha-O-Pathagar, II Handpumps in Block Nand- Post-Gholepukuria, Distt. igram-II, Dist. Midnapore, Midnapore, West Bengal. West Bengal; likely to cost Rs. 15.11 lakhs
11. Lalbhai Group Rural Integrated Development Pro- Rs. 92.00 lakhs Development Fund, Anandji gramme in nine districts, viz., Kalyanji Block, Near Ashrova Jamnagar, Sabarkantha, Railway Station, Naroda Road, Kheda, Banaskantha, Rajkot, Ahmedabad. Panchamahal, Anand, Dahod and Porbander of Gujarat; likely to cost Rs. 92.36 lakhs
12. U.V. Patel Foundation Scheme for award of education Rs. 288.00 1215/2, Shirole Road, scholarships and grants lakhs as Shivajinagar, Pune. in Gujarat and Maharashtra corpus fund States; likely to cost Rs. 500.00 lakhs.
13. Anuvrat Gram Bharti Rural development project- Rs. 60.00 Sansthan, Vinaypuram, P.O. construction of buildings for lakhs Chankshed, Tehsil-Mandal, primary school, women and Distt. Bilwara, Rajasthan child welfare centre, staff quarters, guest house, labo- ratory and libaray hall, kitchen and dinning hall, medita- tion hall, administrative block at Vinayapuram, District Bhilwara, Rajasthan; likely to cost Rs. 79.59 lakhs
14. Sterlite Foundation Setting up and running of Rs. 138.60 113, Samudra Mahal, vocational training centres lakhs plus a Annie Besant Road, Worli, for computer courses and corpus fund Mumbai. tailoring classes at 45 of Rs. 1063 centres; likely to cost lakhs Rs. 138.60 lakhs plus Rs. 1063.00 lakhs as corpus fund.
15. Asoka Kala Niketan Trust, Running of programmes for Rs. 12.80 49, Bombay-Pune Road, leprosy eradication, rehabi- lakhs Bopadi, Pune. lition and Research Centre at Pune City, Maharashtra; likely to cost Rs. 6.40 lakhs per year
16. Socio Economic Educational Rural community health and Rs. 45.86 Development Society family welfare project at lakhs (SEEDS), D.No. 15/451, Bukkaraya Samudram Kamlanagar, Anantpur, Mandal, Anantapur Andhra Pradesh. District, Andhra Pradesh; likely to cost Rs. 45.86 lakhs
17. Maria Seva Sangha, Villa Construction of houses under Rs. 100.00 Maria, No. 12, Rest House social housing project at lakhs Road, Bangalore. Sannathammanahalli K.R. Puram, Taluka Bangalore South, Karnataka; likely to cost Rs. 866.41 lakhs.
18. Shubham Karothi, 52/1, Ramo Construction of building Rs. 200.00 Halli, Kengari Hobli, Bangalore. purchase of equipment, lakhs Furnishing and running of school and rehabilition centre at Ramohalli Kengari, Bangalore South, Karnataka State; likely to cost Rs. 200.00 lakhs. ------
2. This Notification shall remain in force for a period of two years in relation to the assessment years 1998-99 and 1999-2000 in respect of projects or schemes mentioned at serial numbers 6, 12 and 15 and for a period of three years in relation to the assessment years 1998-99, 1999-2000 and 2000-2001 in respect of projects or schemes mentioned at serial numbers 1,2,3,4,5,7,8,9,10,11,13,14,16,17 and 18.
[No. 10508/F. No. NC-153/97
Notification: S. O. 54(E)
Section(s) Referred: s. 35AC(1)
In exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government on the recommendations of the National Committee, hereby approves the institutions specified in column (2) of the Table below and specifies the eligible projects or schemes and the estimated cost thereof as mentioned in column (3) of the said Table and also specifies in the column (4) of the said Table, the maximum amount of such cost which may be allowed as a deduction under the said section 35AC.
TABLE ------- Sl. Name of the institutions Project or scheme and Maximum No. estimated cost thereof amount of cost to be allowed as deduction under section 35AC ------- (1) (2) (3) (4) ------- 1. Gramshree Trust, Setting up of Balmandir and Rs. 10.91 lakhs. 35, Sawmi Gunatit Nagar, to provide free uniforms, note Memnagar, Ahmedabad. books and books to the poor and needy high school stud- ents at Ahmedabad, Gujarat; likely to cost Rs. 10.91 lakhs.
2. Vivekananda Vidyapeeth, Land development constru- Rs. 63.00 lakhs. Ramakrishna Paramhansa tion of school and college Nagar, Kota, Raipur, buildings with all facilities Madhya Pradesh. and furnishing of Vivekanada model residential school at Kota, Raipur, Madhya Pra- desh; likely to cost Rs. 370.38 lakhs.
3. Tribal Entrepreneurs Associa- Dhansiri River Bank Protec- Rs. 100.00 lakhs. tion, Nabarbari, Dr. Epao tion Project at Naharbari, Cottage, Dimapur, Dimapur, Nagaland; likely to Nagaland. cost Rs. 197.96 lakhs.
4. Sankat Nivaran Society, Relief work/welfare activities Rs. 200.00 lakhs Gujarat, C/o Gujarat for people affected by natural as corpus fund. Chamber of Commerce and calamities all over India; Industries, Ashram Road likely to cost Rs. 200.00 lakhs Ahmedabad. as corpus fund.
5. Blind Persons' Association, Construction of buildings and Rs. 187.50 lakhs. 10/2, Shamsul Huda Road, Braille Press, library, blind Calcutta. school, auditorium, dormitory, purchase of Braille press and running of Braille Press Complex at Vidyapalli, Malanda, Mahinagar, South-24 Parganas; likely to cost Rs. 201.50 lakhs.
6. Bhartiya Jain Sangathana, Rehabilitation of children Rs. 172.51 lakhs. C/o Muttha Associates, affected by natural disaster 1184/4, Fergusson College and orphans and destitute Road, Dnyanshwar, Paduka children at Wagholi, near Chowk, Pune. Pune, Maharashtra; likely to Cost Rs. 172.51 lakhs.
7. Hindu Mission Hospital, Project "Annalakshmi" to Rs. 30.00 lakhs 36, G.S.T. Road, Tambaram provide free food to hospi- corpus fund. West, Chennai. talised poor patients at Hindu Mission Hospital, Chennai, Tamil Nadu.
8. Mascotte Development Social forestry project at Rs. 15.00 lakhs. Society at Dimapur, Chumukedima-Tenyiphe Chumukedima village, Block villages, Nagaland; likely to No. 4, Dimapur, Nagaland. cost Rs. 35.29 lakhs.
9. Bangalore Golf Club, Common effluent treatment Rs. 320.00 lakhs. No. 2, Sankey Road, plant at Bangalore, Karnataka; High Grounds, Bangalore likely to cost Rs. 370.00 lakhs.
10. Dakshin Gholepukuria Sonali Installation of 36 India Mark- Rs. 14.90 lakhs. Sangha-O-Pathagar, II handpumps in Block Nan- Post-Gholepukuria, digram-II, District-Midnapore, Distt. Midnapore, West Bengal; likely to cost West Bengal Rs. 15.11 lakhs.
11. Lalbhai Group Rural Deve- Integrated development Rs. 92.00 lakhs. lopment Fund, Anandji programme in nine districts, Kalyanji Block, Near Ashrva viz., Jamnagar, Sabarkantha Railway Station, Naroda Kheda, Banaskantha, Rajkot, Road, Ahmedabad. Panchmahal, Anand, Dahod and Porbandar of Gujarat; likely to cost Rs. 92.36 lakhs.
12. U. V. Patel Foundation, Scheme for award of educa- Rs. 288.00 lakhs 1215/2, Shirole Road, tion scholarships and grants as corpus fund. Shivajinagar, Pune. in Gujarat and Maharashtra States; likely to cost Rs. 500.00 lakhs.
13. Anuvrat Gram Bharti Rural development project--- Rs. 60.00 lakhs. Sansthan, Vinaypuram, construction of buildings for P.O. Chankshed, Tehsil--- primary school, women and Mandal, Distt. Bhilwara, child welfare centre, staff Rajasthan. quarters, guest house, laboratory and library hall, kitchen and dinning hall, meditation hall, administra- tive block at Vinaypuram, District Bhilwara, Rajasthan; likely to cost Rs. 79.59 lakhs.
14. Sterlite Foundation, Setting up and running of Rs. 138.60 lakhs 113, Samudra Mahal, vocational training centres plus a corpus Annie Besant Road, for computer courses and fund of Rs. 1,063 Worli, Mumbai. tailoring classes at 45 lakhs. centres; likely to cost Rs. 138.60 lakhs plus Rs. 1,063.00 lakhs as corpus fund
15. Ashoka Kala Niketan Trust, Running of programmes for Rs. 12.80 lakhs. 49, Bombay-Pune Road, leprosy eradication, rehabili- Bopadi, Pune. tation and research centre at Pune city, Maharashtra; likely to cost Rs. 6.40 lakhs per year.
16. Socio-Economic Educational Rural community health and Rs. 45.86 lakhs. Development Society family welfare project at (SEEDS), Bukkaraya Samudram Mandal, D. No. 15/451, Kamlangar, Anantpur District, Andhra Anantpur, Andhra Pradesh. Pradesh; likely to cost Rs. 45.86 lakhs.
17. Maria Seva Sangha, Construction of houses under Rs. 100.00 lakhs. Villa Maria, No. 12, social housing project at Rest House Road, Sannathammanahalli; K.R. Bangalore. Puram Taluka, Bangalore South, Karnataka; likely to cost Rs. 866.41 lakhs.
18. Shubham Karothi, Construction of building, pur- Rs. 200.00 lakhs. 52/1 Ramo Halli, chase of equipment, funish- Kengeri Hobli, ing and running of school and Bangalore. rehabilitation centre at Ramohalli, Kengeri, Banga- lore South, Karnataka State; likely to cost Rs. 200.00 lakhs. -------
2. This notification shall remain in force for a period of two years in relation to the assessment years 1998-99 and 1999-2000 in respect of projects or schemes mentioned at serial numbers 6, 12 and 15 and for a period of three years in relation to the assessment years 1998-99, 1999-2000 and 2000-2001 in respect of projects or schemes mentioned at serial numbers 1, 2, 3, 4, 5, 7, 8, 9, 10, 11, 12, 13, 14, 16, 17 and 18.
[No. 10508/F. No. NC-153/97]
Notification: S.O. 55(E)
Whereas by Notification Number S.O. 228(E), dated the 17th March, 1994, issued under sub-section (1) read with clause (b) of Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 10, Expansion of Hindu Mission Hospital by addition of Geriatric Division and Ophthalmic Block (7,400 sq. ft. area for each), to benefit people living in and around Tambaram of Hindu Mission Hospital, 36, G. S. T. Road, Chennai-600 045, as an eligible project or scheme for a period of three years beginning with the assessment year 1994-95;
And whereas by Notification No. S.O. 483(E), dated the 5th July, 1996, the said project or scheme was specified as an eligible project or scheme for a further period of three years commencing from the assessment year 1997-98;
And whereas the said project or scheme is likely to extend beyond six years;
And whereas the National Committee, being satisfied that the said project or scheme is being executed properly, made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules, 1962, for specifying the said project or scheme for a further period of one year and enhancing the estimated cost to rupees two hundred fifty lakhs;
Now, therefore, the Central Government in exercise of the powers conferred by sub-section (1) read with clause (b) of Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of Expansion of Hindu Mission Hospital by addition of Geriatric Division and Ophthalmic Block (7,400 sq. ft. area for each) to benefit people living in and around Tambaram of Hindu Mission Hospital, 36, G. S. T. Road, Chennai-600 045, at the estimated cost of rupees two hundred fifty lakhs only as an eligible project or scheme for a further period of one year, i.e., assessment year 2000-2001.
[No. 10509/F. No. NC-153/97
Notification: S.O. 56(E)
Whereas by Notification Number S.O. 92(E), dated 2nd February, 1996, issued under sub-section (1) read with clause (b) of Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 2, Girnar Development/Drinking Water Project at Mount Girnar, Junagadh District, Gujarat of Shree Neminath Bhagwant Public Trust C/o K. T. Hemani And Co., Toran, Limada Chowk, Subhash Road, Rajkot-1, as an eligible project or scheme for a period of two years beginning with the assessment year 1996-97
And whereas the said project or scheme is likely to extend beyond two years;
And whereas the National Committee, being satisfied that the said project or scheme is being executed properly, made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules, 1962, for specifying the said project or scheme for a further period of two years
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of Girnar Development/Drinking Water Project at Mound Girnar, Junagadh District, Gujarat of Shree Neminath Bhagwant Public Trust C/o K. T. Hemani And Co., Toran, Limada Chowk, Subhash Road, Rajkot-1, at the estimated cost of rupees one hundred fifty lakhs only as an eligible project or scheme for a further period of two assessment years commencing from the assessment year 1998-99.
[No. 10510/F. No. NC-153/97
Notification: S.O. 57(E)
Whereas by Notification Number S.O. 92(E), dated 2nd February, 1996, issued under sub-section (1) read with clause (b) of Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 5, conduct eye operation, polio operation, camps, oxygen cylinder seva and ambulance service all over Gujarat of Karuna Trust, 22, Gautam Nagar, Near Narapura Railway Crossing, Ahmedabad-13, as an eligible project or scheme for a period of three years beginning with the assessment year 1996-97
And whereas the said project or scheme is likely to extend beyond three years;
And whereas the National Committee, being satisfied that the said project or scheme is being executed properly, made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules, 1962, for specifying the said project or scheme for a further period of three years
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of Conduct eye operation, polio operation, camps, oxygen cylinder seva and ambulance service all over Gujarat of Karuna Trust, 22, Gautam Nagar, Near Narapura Railway Crossing, Ahmedabad-13, at the estimated cost of rupees ninety-four lakhs only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.
[No. 10511/F. No. NC-153/97
Notification: S.O. 58(E)
Whereas by Notification Number S.O. 711(E), dated 25th September, 1992, issued under sub-section (1) read with clause (b) of Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 1, (a) Mahatama Gandhi Mission for Gram Swarajya (at an estimated cost of rupees six crores); (b) Construction and Equipment of one hundred women and children centres in the Tribal villages in the District of Sonbhadra (UP) (at an estimated cost of Rs. 1.5 crores); and (c) Banwasi Bhawana-Construction and Equipment of a Hostel-cum-Training centre for SC/ST and other poor students (at and estimated cost of Rs. 1.5 crores) along with other ten institutions of Banwasi Seva Ashram, Govindpur (via Turra), Sonbhadra, U. P., as an eligible project or scheme for a period of three years beginning with the assessment year 1993-94
And whereas by Notification No. S.O. 841(E), dated the 22nd November, 1994, the said project or scheme was specified as an eligible project or scheme for a further period of three years commencing from the assessment year 1996-97;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of (a) Mahatama Gandhi Mission for Gram Swarajya (at an estimated cost of rupees six crores); (b) Construction and Equipment of one hundred women and children centres in the Tribal villages in the District of Sonbhadra (UP) (at an estimated cost of Rs. 1.5 crores); and (c) Banwasi Bhawana-Construction and Equipment of a Hostel-cum-Training centre for SC/ST and other poor students (at and estimated cost of Rs. 1.5 crores) along with other ten institutions of Banwasi Seva Ashram, Govindpur (via Turra), Sonbhadra, U. P., as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.
[No. 10512/F. No. NC-153/97
Notification: S.O. 228
Section(s) Referred: 80G ,80G(2) ,80G(2)(b)
Date of Issue: 20/1/1998
In exercise of the powers conferred by clause (b) of sub-section (2) of section 80-G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies Arulmigu Thiruvaleeswarar Temple, Madras, Government by Hindu Religious and Charitable Endowment Department of Tamilnadu, as a place of historical and archaeological importance and a place of worship of renown throughout the State of Tamil Nadu for the purpose of the said section.
This notification will be valid only for the repair/renovation work of Arulmigu Thiruvaleeswarar Temple to the extent of Rs. 3,25,000 (rupees three lakhs twenty-five thousand only).
[Notification No. 10514/F. No. 176/27/96-ITA-I
Notification: S.O. 67(E)
Section(s) Referred: 10 ,10(15) ,10(15)(iv) ,10(15)(iv)(h)
In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies 7-year 9.25 per cent. per annum (Tax-free) Rural Electrification Corporation Bonds---2004 (XXXII Series) bearing distinctive numbers:
(i) from 400001 to 400150 of Rs. 1,00,000 each for an amount of Rs. 1,50,00,000 (Rupees one crore fifty lakhs only); and
(ii) from 500001 to 500297 of Rs. 50,00,000 each for an amount of Rs. 1,48,50,00,000 (Rupees one hundred and forty-eight crores and fifty lakhs only),
aggregating to an amount of rupees one hundred fifty crores only issued by the Rural Electrification Corporation Limited, for the purpose of the said item:
Provided that the benefit under the said item shall be admissible only if the holder of such bonds registers his/her name and the holding with the said corporation.
[F. No. 178/36/97-ITA-I
Notification: S.O. 68(E)
Section(s) Referred: 80L ,80L(1) ,80L(1)(ii)
In exercise of the powers conferred by clause (ii) of sub-section (1) of section 80L of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the 5-year 17 per cent. Secured, Redeemable, Non-Convertible Bonds (Taxable) (L-series) of Rs. 1,000 each for an amount of Rs. 56,35,00,000 bearing distinctive numbers from 120000001 to 120563500 and 7-year 16 per cent. Secured, Redeemable, Non-Convertible Bonds (Taxable) (L-series) of Rs. 1,000 each for an amount of Rs. 63,30,00,000 bearing distinctive numbers from 120563501 to 121196500 aggregating for an amount of rupees one hundred nineteen crores and sixty-five lakhs only issued by the National Hydroelectric Power Corporation Limited, for the purpose of the said clause.
[Notification No. 10516/F. No. 178/19/97-ITA-I
Notification: S.O. 69(E)
In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies 7-year 10.5 per cent Secured, Redeemable, Non-Convertible Bonds (Tax-free) (L-series) of Rs. 1,000 each for an amount of Rs. 51,00,00,000 (Rupees fifty-one crores only) bearing distinctive number from 121196501 to 121706500 issued by the National Hydroelectric Power Corporation Limited for the purpose of the said item:
Provided that the benefit under the said item shall be admissible only if each holder of such bonds registers his/her name and the holding with the said corporation.
[Notification No. 10517/F. No. 178/19/97-ITA-I
Notification: S.O. 278
Section(s) Referred: 36 ,36(1) ,36(1)(viii)
Date of Issue: 28/1/1998
It is notified for general information that the D. C. M. Housing Finance Ltd., 1st Floor, Kanchenjunga, 18, Barakhamba Road, New Delhi-110 001, has been approved by the Central Government as a Housing Finance Company for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1997-98 to 1999-2000.
The approval is subject to the condition that the company will conform to and comply with the provisions of section 36(1)(viii) of the Income-tax Act, 1961.
[Notification No. 10518/F. No. 204/42/95-ITA-II
Notification: S.O. 279
Section(s) Referred: 35CCB
It is notified for general information that the Institution/Association mentioned below and its programme given hereunder have been approved by the Secretary, Ministry of Environment and Forests, Government of India, New Delhi, being the prescribed authority under rule 6AAC of the Income-tax Rules, 1962, for the purposes of section 35CCB of the Income-tax Act, 1961.
NAME OF THE INSTITUTION/ASSOCIATION
M/s. Vanarai, Vijaynagar, Pune-400 001.
PROGRAMME
Conservation of natural resources.
2. Both the approvals accorded by the prescribed authority, namely, (i) to the Institution/Association under sub-section (2) of section 35CCB, and (ii) to the programmes under sub-section (1) of section 35CCB are valid for the period from April 1, 1997, to March 31, 1998, with the following conditions:---
(i) Vanarai, Vijaynagar, Pune, shall maintain a separate account of the donations received by it for its conservation activities mentioned above.
(ii) Vanarai shall furnish progress report work done on their conservation programmes to the prescribed authority for the financial year 1997-98 by March 31, 1998, positively.
(iii) Vanarai shall submit to the prescribed authority by March 31, 1998, annual audit/accounts report for the year 1997-98 showing total income and liabilities and a copy of each of these documents be sent to the concerned Commissioner of Income-tax.
(iv) Vanarai shall comply with the requirements stipulated in the letter No. 26-21/90-EI(E), dated April 24, 1997, of the Ministry of Environment and Forests and submit the necessary progress report.
(v) The approval is subject to the continued satisfaction of the prescribed authority and may be withdrawn with retrospective effect, if considered necessary.
[Notification No. 10519/F. No. 203/21/97-ITA-II
Notification: S.O. 280
It is notified for general information that the Institution/Association mentioned below and its programme given hereunder have been approved by the Secretary, Ministry of Environment and Forests, Government of India, New Delhi, being, the prescribed authority under the rule 6AAC of the Income-tax Rules, 1962, for the purposes of section 35CCB of the Income-tax Act, 1961.
NAME OF THE INSTITUTION/Association
Green Ray Foundation, P-6, Calanguti Road, Portais Vaddo, Verem-Goa-403 114.
(i) Afforesation of severely denuded stretch of 3.5 Ha. of land acquired by Green Ray Foundation.
(ii) Recovery of the above wasteland with plant species of local suitability taking into the account the soil conditions.
(iii) Development and demonstration of strategies for a better management of natural resources.
(iv) Formation of Earthen Dam/Lake for water conservation and establishing wind-mill.
2. Both the approvals accorded by the prescribed authority, namely, (i) to the Institution/Association under sub-section (2) of section 35CCB and (ii) to the programmes under sub-section (1) of section 35CCB are valid for a period of three years with effect from April 1, 1997, to March 31, 2000, subject to the following conditions :
1. Green Ray Foundation, P-6, Calanguti Road, Portais Vaddo, Verem-Goa---403 114 shall maintain a separate account of the donations received by it for conservation activities.
2. Green Ray Foundation, P-6, Calanguti Road, Portais, Vaddo, Verem-Goa---403 114 shall furnish progress report of the conservation programmes to the prescribed authority for every financial year by June 30, every year.
3. Green Ray Foundation, P-6, Calanguti Road, Portais Vaddo, Verem-Goa---403 114 shall submit to the prescribed authority by June 30, annual account showing total income and liabilities and a copy of each of these documents sent to the concerned Commissioner of Income-tax.
4. Green Ray Foundation, P-6, Calanguti Road, Portais Vaddo, Verem-Goa---403 114 the approval is subject to the continued satisfaction of the prescribed authority and may be withdrawn with retrospective effect, if considered necessary.
[Notification No. 10521/F. No. 203/36/97-ITA.II
Notification: S.O. 281
Gujarat Ecological Education and Research Foundation (GEER), G-1, 194/3, Sector-36, Gandhinagar-382 030 (Gujarat).
(i) Soil moisture conservation works and massive tree planting work in the areas of Indroda Nature Park and in Hingolgadh Nature Education Sanctuary.
(ii) Eco-development of entire area of Indroda Nature Park and Hingolgadh Sanctuary as well as in the area surrounding the sanctuaries.
(iii) Establishment of Natural History Museum at Indroda Nature Park.
(iv) Raising Conservation awareness through Nature Education Camps and Mobile Nature Education Centre.
(v) Taking up captive breeding of various endangered species of animals and birds including establishing Lion Safari Park, Tiger Safari Park, etc.
2. Both the approvals accorded by the prescribed authority, namely, (i) to the Institution/Association under sub-section (2) of section 35CCB, and (ii) to the programme under sub-section (1) of section 35CCB are valid for a period of three years from April 1, 1997, to March 31, 2000, subject to the following conditions :
1. Gujarat Ecological Education and Research Foundation (GEER) shall maintain a separate account of the donations received by it for conservation activities.
2. Gujarat Ecological Education and Research Foundation (GEER) shall furnish progress report for the conservation programmes to the prescribed authority for every financial year by June 30, every year.
3. Gujarat Ecological Education and Research Foundation (GEER) shall submit to the prescribed authority by the June 30, annual account showing total income and liabilities and a copy of each of these documents sent to the concerned Commissioner of Income-tax.
4. The approval is subject to the continued satisfaction of the prescribed authority and may be withdrawn with retrospective effect, if considered necessary.
[Notification No. 10520/F. No. 203/35/97/ITA.II]
Notification: S.O. 100(E)
Date of Issue: 4/2/1998
In exercise of the powers conferred by sub-section (1) of section 54EB of Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies the following bonds as specified securities for the purpose of the said section, namely:---
"bonds to be issued by the Alpic Finance Limited, a public company registered under the Indian Companies Act, 1956, and having its registered office at 6th Floor, New Excelsior Building, Wallace Street, Fort, Mumbai-400 001, of an amount not exceeding Rs. 37.50 crores, which are not transferable before 7 years from the date of its allotment:
Provided that bonds are issued and allotted to the assessee within one year from the date of the issue of this notification."
[Notification No. 10524/F. No. 178/136/97-ITA-I
Notification: S.O. 101(E)
"bonds to be issued by the Alpic Finance Limited, a public company registered under the Indian Companies Act, 1956, and having its registered office at 6th Floor, New Excelsior Building, Wallace Street, Fort, Mumbai-400 001, of an amount not exceeding Rs. 37.50 crores, which are not transferable before three years from the date of its allotment:
[Notification No. 10525/F. No. 178/136/97-ITA-I
Notification: S.O.102(E)
In exercise of the powers conferred by sub-section (1) of section 295 of the Income-tax Act, 1961 (43 of 1961), as amended by the Income-tax (Amendment) Second Ordinance, 1997 (28 of 1997), the Central Board of Direct Taxes, hereby makes the following rules further to amend the Income-tax Rules, 1962, namely :-----
This notification contains Amendment to Indian Income-tax Rules carried out on 4-2-1998 not reproduced here as it is already contained in the body of the rules itself.
Notification: S.O. 104(E)
Date of Issue: 6/2/1998
In exercise of the powers conferred by clause (ii) of sub-section (1) of section 80L of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the 15-75 per cent. (Taxable) Secured Redeemable Non-Convertible POWER GRID Bonds (V-Issue) bearing distinctive numbers from E-0000001 to E-2000000 aggregating to an amount of rupees two hundred crores only issued by the Power Grid Corporation of India Ltd., New Delhi, for the purpose of the said clause.
[Notification No. 10527/F. No. 178/36A/97-ITA-I
Notification: S. O. 101(E)
Section(s) Referred: s. 35AC
Date of Issue: 11/2/1998
Whereas by Notification No. S.O. 399(E), dated 6th June, 1996, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 5---construction, furnishing, equipment and running of hospital at Crozaria, District Mehsana, Gujarat, of Smt. Samarthben Chunilal and Sheth Dosabhai Madhavji Sarvajanik Trust, Crozaria-382825, District Mehsana, as an eligible project or scheme for a period of three years beginning with the assessment year 1997-98;
And whereas the National Committee, being satisfied that the said project or scheme is being executed properly made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules, 1962, for specifying the said project or scheme for a further period of three years;
Now, therefore, the Central Government in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of construction, furnishing, equipments and running of hospital at Crozaria, District Mehsana, Gujarat, which are being carried out by Smt. Samarthben Chunilal and Sheth Dosabhai Madhavji Sarvajanik Trust, Crozaria-382825, District Mehsana, at the estimated cost of rupees fifty-nine lakhs only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 2000-2001.
[No. 10791/F. No. NC-132/98]
Notification: S.O.123(E)
Section(s) Referred: 139A ,139A(4)
In exercise of the powers conferred by sub-section (4) of section 139A of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies that every person who is assessed or liable to be assessed by an Assessing Officer under the control of any income-tax authority in India and,--
(a) who has not been allotted a permanent account number and--
(i) if his total income or total income of any other person in respect of which he is assessable under the Income-tax Act, 1961, during any previous year exceeded the maximum amount which is not chargeable to income-tax ; or
(ii) carrying on any business or profession whose total sales, turnover or gross receipts are or is likely to exceed fifty thousand rupees in any previous year ; or
(iii) who is required to furnish a return of income under sub-section (4A) of section 139 of the Income-tax Act, 1961 ; or
(b) who has been allotted a permanent account number other than under the new series,--
shall apply before the 30th day of April, 1998, in respect of the assessment year 1997-98 to the Assessing Officer, having jurisdiction in respect of such person, for the allotment of a permanent account number under the new series.
2. Every person to whom clause (a) or clause (b) of paragraph 1 of this notification becomes applicable on or after the 1st day of any previous year relevant to the assessment year 1998-99 or any subsequent assessment year, shall apply for the allotment of a permanent account number under the new series to the Assessing Officer, having jurisdiction in respect of such person, on or before the 30th day of June of the relevant assessment year :
Provided tha the persons,--
(i) who had applied or are required to apply for the allotment of a permanent account number under the new series in accordance with the notification of the Government of India in the Ministry of Fincance, Department of Revenue (Central Board of Direct Taxes) number S.O. 379(E), dated 30th May, 1996 ; or
(ii) to whom permanent account numbers under the new series have already been allotted,
shall not apply for allotment of a permanent account number under the new series under this notification.
(Sd.) D. Karunakara Rao, Under Secretary to the Government of India. [No. 10533/F. No. 142/1/98-TPL]
Notification: S.O. 136(E)
Date of Issue: 19/2/1998
In exercise of the powers conferred by clause (6C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby declares that any income arising to the Redecon Australia Private Limited, a foreign company having its office at 100, Christie Street, St. Leonards, NSW, Australia-2065, and the NEDECO a foreign company having its office at Barbarossastraat 35, P. O. Box No. 151, 6500 AD Nijmegen, The Netherlands, by way of fees for technical services received in pursuance of the agreement dated February 27, 1997, entered into with the Government of India for providing services in or outside India in projects connected with the security of India shall not be taken into consideration for computing the total income of the said companies under the Income-tax Act, 1961.
(Sd.) H. K. Choudhary, Under Secretary to the Government of India.
[Notification No. 10535/F. No. 200/47/97-ITA-I
Notification: S. O. 428
Section(s) Referred: s. 10(23)
In exercise of the powers conferred by clause (23) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies The U.P. Cricket Association, Kanpur, for the purpose of the said clause for the assessment years 1990-91 to 1992-93 subject to the following conditions, namely---
(i) the assessee will apply its income, or accumulate it for application, in consonance with the provisions of sub-sections (2) and (3) of section 11 as modified by the said clause (23) for such accumulation wholly and exclusively to the objects for which it is established;
(ii) the assessee will not invest or deposit its funds (other than voluntary contributions received and maintained in the form of jewellery, furniture or any other article) as may be notified by the Board under the third provision to the aforesaid clause (23) for any period during the previous years relevant to the assessment years mentioned above otherwise than in any one or more of the forms or modes specified in sub-section (5) of section 11;
(iii) the assessee will not distribute any part of its income in any manner to its members except as grants to any association or institution affiliated to it; and
(iv) this notification will not apply in relation to any income, being profits and gains of business, unless the business is incidental to the attainment of the objectives of the assessee and separate books of account are maintained in respect of such business.
[Notification No. 10534/F. No. 196/1/98-ITA-I]
Notification: S.O. 171(E)
Date of Issue: 6/3/1998
In exercise of the powers conferred by sub-section (1) of section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:---
This notification contains amendment to Income-tax Rules, 1961 carried out on 6th March, 1998 not reproduced here as it is already contained in the body of the rules itself.
[Notification No. 10541/F. No. 142/9/98-TPL
Notification: S.O. 198(E)
Date of Issue: 12/3/1998
TABLE ---- Sl. Name of the Project or scheme and Maximum No. institutions estimated cost amount of cost thereof to be allowed as deduction under section 35AC ---- (1) (2) (3) (4) ---- 1. Bharat Sevashram Sangha, Construction of extension of Rs. 23.00 lakhs. 211, Rash Behari Avenue, building and furnishing of Calcutta--700 019. Pranabananda Women's College at Dimapur, Naga- land, likely to cost Rs. 23.00 lakhs.
2. Andh Apang Kalyan Kendra, Purchase of instruments/ Rs. 30.00 lakhs. Near Janata Nagar Railway equipment and furnishing of Crossing, Vill. Ghatlodia, Andh Apang Kalyan Kendra at Distt. Ahmedabad---380061. Ahmedabad, Gujarat, likely to cost Rs. 30.00 lakhs.
3. "Savali" (Association for Purchase of equipment and Rs. 71.21 lakhs. Mentally Retarded and running of socio-economic Cerebral Palsy Children), promotion of cerebral palsied Alankar Plot No. 14, S.No.133, children and adults through Kothrud, Pune-411 029. education, institutional care, training and vocational guidance at Kothrud, Pune, Maharashtra, likely to cost of Rs. 90.79 lakhs.
4. Shree Veda-Govindpura Ambulance van and Rs. 7.87 lakhs. Sarvajanik Davakhanu, medicines for B.M.B. Village Veda, Taluka-Kalol, Sarvajanik Hospital at village Via-Nardipur, District- Veda, Taluka Kalol, District Mehsana, North Gujarat---35. Mehsana, Gujarat, likely to cost Rs. 7.87 lakhs.
5. Shri Satya Sai Trust Haryana Construction of building and Rs. 76.00 lakhs. and Chandigarh, 2093, furnishing of old age home Sector-15C, and seva centre at Sector-30B, Chandigarh---160 015. Chandigarh, likely to cost Rs. 91.00 lakhs.
6. Shri K. K. Shah Sabarkantha Purchase of equipments and Rs. 40.00 lakhs Arogya Mandal, P.O. Vatrak, running of hospital at Vatrak, plus a corpus Tal. Bayad, Distt. Sabarkantha- Sabarkantha, Gujarat, likely to fund of Rs. 50.00 383 326. Gujarat. cost Rs. 90.60 lakhs. lakhs.
7. Shri Anantlal Tribhovandas Construction of building with Rs. 270.00 lakhs Shah Ayurvedic Sarvajanik modern amenities for Ayur- plus a corpus Hospital, Lal Bazzar, A.T. Shah vedic Hospital at Zadeshwar, fund of Ayurvedic Hospital Marg, Gujarat ; likely to cost Rs. 100.00 lakhs. Bharuch-392 001, Gujarat. Rs. 424.00 lakhs.
8. Chandra Rajeshwara Rao Construction of building, Rs. 60.70 lakhs Foundation for Social furnishing and running of plus a corpus Progress, 3-6-201, home for the aged at fund of Rs.60.00 Makhdoom Bhavan, Himayat Kondapur, Rangareddy Distt. lakhs. Nagar, Hyderabad--500 029. Andhra Pradesh; likely to cost Rs. 160 lakhs. ----
2. This notification shall remain in force for a period of three years in relation to the assessment years 1998-99, 1999-2000 and 2000-2001 in respect of projects or schemes mentioned in the Table.
[No. 10543/F. No. NC-9/98]
Notification: S.O. 199(E)
Whereas by notification number S. O. 887(E), dated 22nd November, 1993, issued under sub-section (1) read with clause (b) of Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 2, the construction of community care and research centre at Miraj in Maharashtra of Sanjeevan Medical Foundation, Ashvini Prasad Hospital, Miraj (Maharashtra), as an eligible project or scheme for a period of two years beginning with the assessment year 1994-95 which was extended for a further period of three assessment years ending with the assessment year 1998-99, vide S.O. No. 294(E), dated 4th April, 1995 ;
And whereas the said project or scheme is likely to extend beyond five years ;
And whereas the National Committee, being satisfied that the said project or scheme is being executed properly, made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules, 1962, for specifying the said project or scheme for a further period of three years and enhancing the approved cost to rupees seven hundred lakhs only ;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of the construction of community care and research centre at Miraj in Maharashtra of Sanjeevan Medical Foundation, Ashvini Prasad Hospital, Miraj (Maharashtra), at the estimated cost of rupees seven hundred lakhs only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.
[No. 10544/F. No. NC-9/98]
Notification: S.O. 200(E)
Whereas by notification number S.O. 602(E), dated 12th August, 1993, issued under sub-section (1) read with clause (b) of Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 3, the construction of Maharaja Agrasen Hospital at Agroha, District Hissar, Haryana of Maharaja Agrasen Medical Education and Scientific Research Society, New Delhi, as an eligible project or scheme for a period of three years beginning with the assessment year 1994-95 which was extended for a further period of two assessment years ending with the assessment year 1998-99, vide S.O. 94(E), dated 2nd February, 1996 ;
And whereas the National Committee, being satisfied that the said project or scheme is being executed properly, made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules, 1962, for specifying the said project or scheme for a further period of three years and enhancing the approved cost to rupees forty crores only ;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of the construction of Maharaja Agrasen Hospital at Agroha, District Hissar, Haryana of Maharaja Agrasen Medical Education and Scientific Research Society, New Delhi, at the estimated cost of rupees forty crores only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.
[No. 10545/F. No. NC-9/98]
Notification: S.O. 201(E)
In the Notification of Government of India in the Ministry of Finance, Department of Revenue (Central Board of Direct Taxes), No. S.O. 34(E), dated 12th February, 1998, published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (ii), dated 12th January, 1998, at page 39, in line 24 of 229 ITR (St.), for "1989" read "1997".
[Notification No. 10546/F. No. 142/85/97-TPL]
Notification: S.O. 210(E)
Date of Issue: 16/3/1998
Whereas by notification number S.O. 740(E), dated 12th October, 1994, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 10, the Construction of Phase-I, of Bhagwan Mahaveer Cancer Hospital and Research Centre at Jawaharlal Nehru Marg, Jaipur, Rajasthan, as an eligible project or scheme for a period of two years beginning with assessment year 1995-96, which was extended for further period of two assessment years ending with the assessment year 1998-99, vide S. O. 235(E) dated the 21st March, 1996 :
And whereas the said project or scheme is likely to extend beyond four years ;
And whereas the National Committee, being satisfied that the said project or scheme is being executed properly, made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules, 1962, for specifying the said project or scheme for a further period of two years ;
Now, therefore, the Central Government, in exercise of the powers, conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of the Construction of Phase-I, of Bhagwan Mahaveer Cancer Hospital and Research Centre at Jawaharlal Nehru Marg, Jaipur, Rajasthan, at the estimated cost of rupees thirteen crore eighty lakhs only as an eligible project or scheme for a further period of two assessment years commencing from the assessment year 1999-2000.
[No. 10548/F. No. NC-9/98]
Notification: S.O. 211(E)
Whereas by Notification No. S. O. 791(E) dated 18th September, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 10, the construction of multi-purpose Gymnasium hall and other sports facilities, for holding sports meets at Narayangaon, Tal, Junnar, District Pune, Maharashtra of Gramonnati Mandal, Narayangaon---410505, as an eligible project or scheme for a period of two years beginning with the assessment year 1996-97 ;
And whereas the said project or scheme is likely to extend beyond two years ;
And whereas the National Committee, being satisfied that the said project or scheme is being executed properly, made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules, 1962 for specifying the said project or scheme for a further period of three years ;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of the construction of multi-purpose gymnasium hall and other sports facilities for holding sports meets at Narayangaon, Tal, Junnar, District Pune, Maharashtra of Gramonnati Mandal, Narayangaon----410505, at the estimated cost of rupees forty lakhs only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1998-99.
[No. 10549/F. No. NC-9/98]
Notification: S.O. 212(E)
Whereas by Notification No. S. O. 973(E), dated 14th December, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 13, running of free medical aid services at NOIDA of Kailash Charitable Trust, C-320, Sector-19, NOIDA--201301 as an eligible project or scheme for a period of three years beginning with the assessment year 1996-97 ;
And whereas the said project or scheme is likely to extend beyond three years ;
And whereas the National Committee, being satisfied that the said project or scheme is being executed properly, made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules, 1962 for specifying the said project or scheme for a further period of three years and enhancing the approved cost to rupees seventy-five lakhs only ;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of running of free medical aid services at NOIDA of Kailash Charitable Trust, C-320, Sector-19, NOIDA---201301, at the estimated cost of rupees seventy-five lakhs only as an eligible project or scheme for a further period of three assessment years commencing from assessment year 1999-2000.
[No. 10550/F. No. NC--9/98]
Notification: S.O. 213(E)
Whereas by Notification No. S. O. 844(E) dated 17th October, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 5, equipments, furnishing and running of Residential Training Centre for mentally retarded persons at Sabarkantha District, Gujarat of Sahyog Kushthayagna Trust, Rajendra Nagar Crossing, District Sabarkantha, Gujarat---383276 as an eligible project or scheme for a period of three years beginning with the assessment year 1996-97 ;
And whereas the National Committee, being satisfied that the said project or scheme is being executed properly, made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules, 1962 for specifying the said project or scheme for a further period of three years and enhancing the approved cost to rupees thirty-five lakhs seventy thousand only ;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of equipments, furnishing and running of Residential Training Centre for mentally retarded persons at Sabarkantha District, Gujarat of Sahyog Kushthayagna Trust, Rajendra Nagar Crossing, District Sabarkantha, Gujarat---383276 at the estimated cost of rupees thirty-five lakhs seventy thousand only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.
[No. 10551/F. No. NC--9/98]
Notification: S.O. 214(E)
Whereas by Notification No. S. O. 844(E) dated 17th October, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 12, construction of Kai Mohan Thuse Netra Rugnalaya at Narayangaon, Pune of Kai. Mohan Thuse Netra Rugnalaya At & Post---Narayangaon, Taluka--Junnar, District Pune---410504 as an eligible project or scheme for a period of three years beginning with assessment year 1996-97 ;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of Construction of Kai Mohan Thuse Netra Rugnalaya at Narayangaon, Pune of Kai Mohan Thuse Netra Rugnalaya At & Post--Narayangaon, Taluka-Junnar, District Pune---410504 at the estimated cost of rupees forty lakhs only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.
[No. 10552/F. No. NC--9/98]
Notification: S.O. 215(E)
Whereas by Notification No. S. O. 180(E), dated 10th March, 1997, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 19, construction furnishing, equipment/materials and running of home for girls, primary school, vocation training centre and health clinic at Kora-Chandigarh, Madhyamgram, Hridaypur, 24 Parganas, West Bengal of Pranab Kanya Sangha, P. O. Hridaypur, Pin---743204, Distt. North 24---Parganas, West Bengal as an eligible project or scheme for a period of two years beginning with the assessment year 1997-98 ;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of construction furnishing, equipment/materials and running of home for girls, primary school, vocation training centre and health clinic at Kora---Chandigarh, Madhyamgram, Hridaypur, 24--Parganas, West Bengal of Pranab Kanya Sangha, P. O. Hridaypur, Pin--743204, Distt. North 24, Parganas, West Bengal, at the estimated cost of rupees forty-four lakhs sixty-seven thousand only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.
[No. 10553/F. No. NC--9/98
Notification: S.O. 216(E)
Whereas by Notification No. S. O. 228(E), dated 17th March, 1994, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 5, development and extension of educational, medical and sports facilities to rural areas (through construction of school building, centre of education and rooms in schools with provision of equipment, mobile educational van, hospital building with equipment, mobile medical unit and prevention and cure of occupational diseases and ground tracks and auditorium/stadium) in 50 villages around Ankleshwar of Ankleshwar Industrial Development Society, K-1/205, GIDC Industrial Estate, Post Box No. 24, Ankleshwar--393002 as an eligible project or scheme for a period of three years beginning with the assessment year 1994-95 which was extended for a further period of two years ending with the assessment year 1998-99, vide S. O. No. 218(E), dated 19th March, 1996 :
And whereas the National Committee, being satisfied that the said project or scheme is being executed properly, made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules, 1962 for specifying the said project or scheme for a further period of two years ;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of development and extension of educational, medical and sports facilities to rural areas (through construction of school building, centre of education and rooms in schools with provision of equipment, mobile educational van, hospital building with equipment, mobile medical unit and prevention and cure of occupational diseases and ground tracks and auditorium/stadium) in 50 villages around Ankleshwar of Ankleshwar Industrial Development Society, K-1/205, GIDC Industrial Estate, Post Box No. 24, Ankleshwar---393 002, at the estimated cost of rupees six hundred lakhs only as an eligible project or scheme for a further period of two assessment years commencing from the assessment year 1999-2000.
[No. 10554/F. No. NC--9/98]
Notification: S.O. 217(E)
Whereas by Notification No. S. O. 844(E), dated 17th October, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 8, equipment and furnishing of Dr. S. R. K. Malik Memorial Eye Hospital at Mukhamilpur Village, Delhi of MMR Research and Eye Care Foundation, B-15, Swasthya Vihar, Delhi as an eligible project or scheme for a period of three years beginning with the assessment year 1996-97 ;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of equipment and furnishing of Dr. S. R. K. Malik Memorial Eye Hospital at Delhi of MMR Research and Eye Care Foundation, B-15, Swasthya Vihar, Delhi at the estimated cost of rupees one hundred forty-eight lakhs eighty-nine thousand only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.
[No. 10555/F. No. NC--9/98]
Notification: S.O. 218(E)
In exercise of the powers conferred by clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government on the recommendations of the National Committee hereby amends the Notification of Government of India, Ministry of Finance (Department of Revenue) S. O. No. 862(E), dated 12th December, 1997, as follows, namely :----
In the said Notification at Serial No. 14 in column 3 the words "at Mumbai, Maharashtra" shall be omitted.
[No. 10556/F. No. NC--9/98]
Notification: S.O. 219(E)
Whereas by Notification No. S. O. 973(E), dated 14th December, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 6, construction of overhead tank, Nurses Training School with hostel and doctors' quarters at Ramakrishna Mission Sevashrama, Kankhal, Hardwar, UP of Ramakrishna Mission, P.O. Belur Math, District Howrah, West Bengal---711 202 as an eligible project or scheme for a period of three years beginning with the assessment year 1996-97 ;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of construction of overhead tank, Nurses Training School with hostel and doctors quarters at Ramakrishna Mission Sevashrama, Kankhal Hardwar, UP of Ramakrishna Mission, P.O. Belur Math, District Howrah, West Bengal---711 202 at the estimated cost of rupees sixty-eight lakhs eighty thousand only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000 ;
[No. 10557/F. No. NC--9/98]
Notification: S.O. 220(E)
Whereas by Notification No. S. O. 602(E) dated 12th August, 1993, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 12, the medical care to old persons and leprosy patients, provision of home to old persons, rehabilitation of destitute old women, conducting eye camps of Helpage India, C-14, Qutab Institutional Area, New Delhi---110 016 as an eligible project or scheme for a period of two years beginning with the assessment year 1994-95 which was extended for a further period of three assessment years ending with the assessment year 1998-99, vide S. O. No. 405(E), dated 3rd May, 1995 ;
And whereas the National Committee, being satisfied that the said project or scheme is being executed properly, made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules, 1962, for specifying the said project or scheme for a further period of three years ;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of the medical care to old persons and leprosy patients, provision of home to old persons, rehabilitation of destitute old women, conducting eye camps of Helpage India, C-14, Qutab Institutional Area, New Delhi---110 016 at the estimated cost of rupees one thousand two hundred ninety-five lakhs only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.
[No. 10558/F. No. NC--9/98]
Notification: S.O. 221(E)
Whereas by Notification No. S. O. 388(E) dated 19th May, 1997, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 10, the Running of Multifarious Rural Welfare projects in Health Care Education, Sports and Cultural activities and construction of hospital building, equipment and furnishing and management of natural resources in Madhya Pradesh, Gujarat and Maharashtra of Shri Sadguru Seva Sangh Trust, Mafatlal House, Backbay Reclamation, Mumbai---400 020 as an eligible project or scheme for a period of three years beginning with assessment year 1998-99 ;
And whereas the National Committee, being satisfied that the said project or scheme is being executed properly, made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules, 1962, for enhancing the approved cost to rupees one thousand three hundred thirty-three lakhs from rupees one thousand two hundred twenty-five lakhs ;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of the Running of Multifarious Rural Welfare projects in Health Care Education, Sports and Cultural activities and construction of hospital building, equipments and furnishing and management of natural resources in Madhya Pradesh, Gujarat and Maharashtra of Shri Sadguru Seva Sangh Trust, Mafatlal House, Backbay Reclamation, Mumbai---400 020 at the estimated cost of rupees one thousand three hundred thirty-three lakhs only as an eligible project or scheme for a period of three assessment years commencing from assessment year 1998-99.
[No. 10559/F. No. NC--9/98]
Notification: S.O. 222(E)
Whereas by Notification No. S. O. 878(E), dated 30th November, 1992, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 8, the Hospital Centre at Trivandrum of Ramakrishna Math, P.O. Belur Math, Distt. Howrah, West Bengal---711 202 as an eligible project or scheme for a period of three years beginning with the assessment year 1993-94 which was extended for a further period of three years ending with the assessment year 1998-99, vide S. O. 179(E), dated 9th March, 1995 ;
And whereas the said project or scheme is likely to extend beyond six years ;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of Hospital Centre at Trivandrum of Ramakrishna Math, P. O. Belur Math, Distt. Howrah, West Bengal---711 202 at an estimated cost of rupees fifty-six lakhs as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.
[No. 10560/F. No. NC--9/98]
Notification: S. O. 616
Section(s) Referred: s. 36(1)(viii)
Date of Issue: 19/3/1998
It is notified for general information that Character Housing Finance Ltd., Anand, has been approved by the Central Government as a housing finance company for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1997-98 and 1998-99.
[Notification No. 10561/F. No. 204/11/96-ITA-II]
Notification: S.O. 259(E)
Section(s) Referred: 295
Date of Issue: 27/3/1998
In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules :---
This notification contains amendment to Income-tax (Fifth Amendment) Rules, 1998 carried out on 27-3-1998 not reproduced here as it is already contained in the body of the rules itself.
Notification: S. O. 274(E)
Section(s) Referred: s. 54EB(1)
Date of Issue: 1/4/1998
In exercise of the powers conferred by sub-section (1) of section 54EB of the Income-tax Act, 1961, the Central Board of Direct Taxes hereby specifies shares to be issued within a period of one year from the date of publication of this notification in the Official Gazette of an amount not exceeding Rs. 110 crores by M/s. Infrastructure Development Finance Company Limited, a public company registered under the Indian Companies Act, 1956, and having its registered office at C/o HDFC Limited, ITC Centre, 2nd Floor, 760, Anna Salai, Chennai-600 002:
Provided that the investment in the aforesaid shares is made by an assessee out of his income chargeable under the head "Capital gains" arising out from transfer of long-term capital asset:
Provided further in case the assessee transfers the aforesaid shares allotted to him in any manner within a period of seven years from the date of their allotment the initial investment made by such assessee in the aforesaid shares shall be chargeable to tax under the head "Capital gains" in accordance with the provisions of sub-section (2) of section 54EB of the Income-tax Act, 1961.
[Notification No. 10569/F. No. 178/137/97-ITA-I]
Notification: S. O. 275(E)
Section(s) Referred: s. 54EA(1)
In exercise of the powers conferred by sub-section (1) of section 54EA of the Income-tax Act, 1961, the Central Board of Direct Taxes hereby specifies shares to be issued within a period of one year from the date of publication of this notification in the Official Gazette of an amount not exceeding Rs. 110 crores by M/s. Infrastructure Development Finance Company Limited, a public company registered under the Indian Companies Act, 1956, and having its registered office at C/o HDFC Limited, ITC Centre, 2nd Floor, 760, Anna Salai, Chennai-600 002:
Provided further in case the assessee transfers the aforesaid shares allotted to him in any manner within a period of three years from the date of their allotment the initial investment made by such assessee in the aforesaid shares shall be chargeable to tax under the head "Capital gains" in accordance with the provisions of sub-section (2) of section 54EA of the Income-tax Act, 1961.
[Notification No. 10570/F. No. 178/137/97-ITA-I]
Notification: S. O. 877
Section(s) Referred: s. 35CCB
Date of Issue: 22/4/1998
It is notified for general information that the institution/association mentioned below and its programme given hereunder have been approved by the Secretary, Ministry of Environment and Forests, Government of India, New Delhi, being the prescribed authority under rule 6AAC of the Income-tax Rules, 1962, for the purposes of section 35CCB of the Income-tax Act, 1961.
Tirumala Tirupati Devasthanam, Tirupati.
Programme.
1. Barren Hill aforestation.
2. Institutional plantation.
3. Road side avenue plantation.
4. Fire protection of forests.
5. Memorial plantation.
Both the approvals accorded by the prescribed authority, namely, (i) to the institution/association under sub-section (2) of section 35CCB and (ii) to the programmes under sub-section (1) of section 35CCB are valid for the period from 1-4-98 to 31-3-2001 subject to the following conditions:---
(i) Tirumala Tirupati Devasthanam, Tirupati, shall maintain a separate account of the donations received by it for conservation and development of forest and maintenance of ecological balance in the area as mentioned in para (i) above.
(ii) Tirumala Tirupati Devasthanam shall furnish a report of the programmes as mentioned in para. (i) above to the prescribed authority for every financial year by the 30th June, each year.
(iii) Tirumala Tirupati Devasthanam shall submit to the prescribed authority, by the 30th June every year, a copy of the audited annual accounts showing the total income and expenditure and balance-sheet showing the position of each of its programmes separately.
[Notification No. 10581/F. No. 203/7/98-ITA-II]
Notification: S. O. 878
It is notified for general information that M/s. Livewell Home Finance Ltd., 94-S. D. Road, Secunderabad, has been approved by the Central Government as a Housing Finance Company for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1998-99 and 1999-2000.
[Notification No. 10580/F. No. 204/13/97-ITA-II]
Notification: S.O. 354(E)
Date of Issue: 28/4/1998
In exercise of the powers conferred by sub-section (4) of section 139A of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following amendments in the Notification of the Government of India, Ministry of Finance, Department of Revenue, Central Board of Direct Taxes Number S. O. 123(E), dated 11th February, 1998, and specifies the date from which the persons referred to in sub-sections (1) and (2) of section 139A of the Income-tax Act, 1961 (43 of 1961), and other persons who have been alloted permanent account numbers, other than under the new series, shall apply to the Assessing Officer for the allotment of a permanent account number under the new series, namely :---
In the said notification, in paragraph 1, after sub-clause (b), for the words, figures and letters "shall apply before the 30th day of April, 1998, in respect of assessment year 1997-98", the words, figures and letters "shall apply before the 30th day of June, 1998, in respect of assessment year 1997-98" shall be substituted.
(Sd.) D. Karunakara Rao, Under Secretary to the Government of India. [No. 10582/F. No. 142/198-TPL]
Notification: S. O. 1044
Date of Issue: 6/5/1998
In exercise of the powers conferred by clause (23) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Delhi Golf Club Ltd., New Delhi, for the purposes of the said clause for the assessment years 1991-92 to 1993-94 subject to the following conditions, namely:---
(ii) the assessee will not invest or deposit its funds (other than voluntary contributions received and maintained in the form of jewellery, furniture or any other article as may be notified by the Board under the third proviso to the aforesaid clause (23) for any period during the previous years relevant to the assessment years mentioned above otherwise than in any one or more of the forms or modes specified in sub-section (5) of section 11;
[Notification No. 10584/F. No. 196/23/95-ITA-I]
Notification: S.O. 390(E)
Date of Issue: 8/5/1998
This notification contains amendment to Income-tax (Sixth Amendment) Rules, 1998, carried out on date 8-5-1998 not reproduced here as it is already contain in the body of the rules itself.
Notification: S.O. 395(E)
Date of Issue: 13/5/1998
In exercise of the powers conferred by section 295 of the Income-tax Act, (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules furhter to amend the Income-tax Rules, 1962, namely :--
This notification contains amendment to Income-tax (Seventh Amendment) Rules, 1998 carried out on 13-5-1998 not reproduced here as it is already contained in the body of the rules itself
Notification: S. O. 404(E)
Date of Issue: 15/5/1998
Whereas by Notification Number S. O. 20(E), dated 6th January, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 8, construction, furnishing and running of Bal Ganga Mahavidyalaya at Sandul, Kemer, Tehri Garhwal, Uttar Pradesh of Bal Ganga Shiksha Prasar Samiti, Kemera (Kemer), P. O. Silyara, via. Ghansali, Tehri Garhwal, Uttar Pradesh as an eligible project or scheme for a period of three years beginning with the assessment year 1995-96;
And whereas the National Committee, being satisfied that the said project or scheme is being executed properly, made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules, 1962, for specifying the said project or scheme for a further period of three years;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of construction, furnishing and running of Bal Ganga Shiksha Prasar Samiti, Kemera (Kemer), P. O. Silyara, via Ghansali, Tehri Garhwal, Uttar Pradesh, at the estimated cost of rupees one hundred forty nine lakhs ninety three thousand only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1998-1999.
[No. 10588/F. No. NC-29/98]
Notification: S. O. 405(E)
Whereas by Notification Number S. O. 187(E), dated 12th March, 1997, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 3, construction, equipments and furnishing a building for Degree College at Ghumarwin, District Bilaspur, Himachal Pradesh of the Associated Cement Companies Limited, Cement House, 121, Maharishi Karve Road, Mumbai-400 020 as an eligible project or scheme for a period of two years beginning with the assessment year 1997-98;
And whereas the National Committee, being satisfied that the said project or scheme is being executed properly, made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules, 1962, for specifying the said project or scheme for a further period of one year and enhancing the approved cost to rupees six hundred one lakhs twenty three thousand only;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of construction, equipments and furnishing a building for Degree College at Ghumarwin, District Bilaspur, Himachal Pradesh of the Associated Cement Companies Limited, Cement House, 121, Maharishi Karve Road, Mumbai-400 020, at the estimated cost of rupees six hundred one lakh twenty-three thousand only for a further period of one year, i.e., assessment year 1999-2000 and enhancing the approved cost to rupees six hundred one lakh twenty-three thousand only.
[No. 10589/F. No. NC 29/98]
Notification: S. O. 406(E)
Whereas by Notification Number S. O. 92(E), dated 2nd February, 1996, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 9, Maintenance for P. H. Bhagwati Sarvajanik Hospital at Jasalpur, Tal, Kadi, District Mehsana of North Gujarat of Jasalpur Arogya Mandal, Jasalpur, Tal, Kadi, District Mehsana, North Gujarat as an eligible project or scheme for a period of three years beginning with the assessment year 1996-97;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of maintenance for P. H. Bhagwati Sarvajanik Hospital at Jasalpur, Tal, Kadi, District Mehsana of North Gujarat of Jasalpur Arogya Mandal, Jasalpur, Tal, Kadi, District Mehsana, North Gujarat, at the estimated cost of rupees thirty-four lakhs twenty-three thousand only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.
[No. 10590/F. No. NC-29/98]
Notification: S. O. 407(E)
Whereas by Notification Number S. O. 194(E), dated 13th March, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 9, Disability Awareness and Rehabilitation in the Community and detection through screening of new born in six hospitals and three monthly trainning centres of grass root level workers in "Early detection" at MGR Chengalpattu district, Tamilnadu of the Spastics Society of Tamilnadu, Centre for Special Education, Oppt. T. T. T. I., Taramani Road, Chennai-113, Tamilnadu as an eligible project or scheme for a period of three years beginning with the assessment year 1996-97;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of Disability Awareness and Rehabilitation in the Community and detection through screening of new born in six hospitals and three monthly trainning centres of grass root level workers in "Early detection" at MGR Chengalpattu district, Tamilnadu of the Spastics Society of Tamilnadu, Centre for Special Education, Opp. T. T. T. I., Taramani Road, Chennai-113, Tamilnadu at the estimated cost of rupees thirteen lakh forty thousand only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.
[No. 10591/F. No. NC-29/98]
Notification: S. O. 409(E)
Whereas by Notification Number S. O. 216(E), dated 30th March, 1993, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 3, technical educational project for women, comprising an Industrial Training Institute and a Polytechnic at Village Shirgaon, near Ratnagiri, Maharashtra, for women from economically weaker sections of Maharshi Karve Stree Shikshan Sanstha, Karve Nagar, Pune-411 052 as an eligible project or scheme for a period of three years beginning with the assessment year 1993-94 which was extended for a period of three more years, i.e., assessment years 1996-97, 1997-98 and 1998-99 vide S. O. No. 723(E), dated 17th August, 1995;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of technical educational project for women, comprising an Industrial Training Institute and a Polytechnic at Village Shirgaon, near Ratnagiri, Maharashtra, for women from economically weaker sections of Maharshi Karve Stree Shikshan Sanstha, Karve Nagar, Pune-411 052, at the estimated cost of rupees one hundred seven lakhs sixty five thousand only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.
[No. 10593/F. No. NC-29/98]
Notification: S. O. 411(E)
Whereas by Notification Number S. O. 973(E), dated 14th December, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 16, Goat raising scheme, construction of building, dug well/stop dam and running of Kukru Development Plan Project at Village Kukru, Tehsil Bhainsdehi, District Development Plan Project at Village Kukru, Tehsil Bhainsdehi, District Betul, Madhya Pradesh of Santulan Society, C/o Energy Consultants, 27, Maharana Pratap Nagar, Zone-II, Bhopal-462 011, Madhya Pradesh as an eligible project or scheme for a period of three years beginning with the assessment year 1996-97;
And whereas the National Committee, being satisfied that the said project or scheme is being executed properly, made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules, 1962, for specifying the said project or scheme for a further period of two years;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of Goat raising scheme, construction of building, dug well/stop dam and running of Kukru Development Plan Project at Village Kukru, Tehsil Bhainsdehi, District Development Plan Project at Village Kukru, Tehsil Bhainsdehi, District Betul, Madhya Pradesh of Santulan Society, C/o Energy Consultants, 27, Maharana Pratap Nagar, Zone-II, Bhopal-462 011, Madhya Pradesh, at the estimated cost of rupees eight lakhs only as an eligible project or scheme for a further period of two assessment years commencing from the assessment year 1999-2000.
[No. 10595/F. No. NC-29/98]
Notification: S. O. 414(E)
Whereas by Notification Number S. O. 216(E), dated 30th March, 1993, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 11, preventive diagnosis curative Medical aid and mass awareness programmes in slums of Bombay and Adivasi areas and other villages of Thane, Raigarh, and Nasik Districts of Maharashtra of The Family Planning and Medical Aid Trust, 6, Indian Mercantile Mansion, Madam Cama Road, Opposite Musuem and C. G. Hall, Fort, Bombay-400 039 as an eligible project or scheme for a period of three years beginning with the assessment year 1993-94 which was extended for a period of three more years, i.e., assessment years 1996-97, 1997-98 and 1998-99, vide S. O. No. 721(E), dated 17th August, 1995;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of preventive diagnosis curative medical aid and mass awareness programmes in slums of Bombay and Adivasi areas and other villages of Thane, Raigarh, and Nasik Districts of Maharashtra of The Family Planning and Medical Aid Trust, 6, Indian Mercantile Mansion, Madam Cama Road, Opposite Musuem and C. G. Hall, Fort, Bombay-400 039, at the estimated cost of rupees nineteen lakhs sixty thousand only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.
[No. 10598/F. No. NC-29/98]
Notification: S. O. 403(E)
In exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government, on the recommendations of the National Committee hereby approves the company specified in column (2) of the Table below and specifies the eligible project or scheme and the estimated cost thereof as mentioned in column (3) of the said Table and also specifies in the column (4) of the said Table, the maximum amount of such cost which may be allowed as a deduction under the said section 35AC.
TABLE ------- Sl. Name of the company Project or scheme and Maximum No. estimated cost thereof amount of cost to be allowed as deduction under section 35AC ------- 1 2 3 4 ------- 1. Bongaigaon Refinery and Welfare Schemes under spe- Rs. 65 lakhs Petrochemicals Limited, cial component plan and P. O. Dhaligaon, Tribal sub-plan at Bongaigoan, District Bongaigaon, Kokrajhar, Goalpara and Dhu- Assam-783 385 bri districts of Assam, likely to cost Rs. 65.00 lakhs.
2. This notification shall remain in force for a period of one year in relation to the assessment year 1999-2000.
[No. 10587/F. No. NC-29/98]
Notification: S. O. 408(E)
Whereas by Notification Number S. O. 713(E), dated 8th August, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 3, construction of 150 beds, old age home at Village Ranawadi, Taluka Velhi, District Pune, Maharashtra of Janaseva Foundation, 699, Pulachi Wadi, Deccan Gymkhana, Pune-411 004, Maharashtra as an eligible project or scheme for a period of three years beginning with the assessment year 1996-97;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of construction of 150 beds, old age home at Village Ranawadi, Taluka Velhi, District Pune, Maharashtra of Janaseva Foundation, 699, Pulachi Wadi, Deccan Gymkhana, Pune-411 004, Maharashtra, at the estimated cost of rupees seventy seven lakhs seventy five thousand only as an eligible project or scheme for a further period of two assessment years commencing from the assessment year 1999-2000.
[No. 10592/F. No. NC-29/98]
Notification: S. O. 412(E)
Whereas by Notification Number S. O. 521(E), dated 14th July, 1994, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 2, construction and running of Phase-II of Rehabilitation Centre for handicapped at Ayikudy, Sencottai Taluk, Tirunelveli District of Tamilnadu comprising,---(a) expansion of home for handicapped; (b) addition of new rooms to school to provide education upto 8th standard; (c) establishment of physiotherapy and vocational centre of Amar Seva Sangam, Post Box No. 001, Sulochana Gardens, 7-4-104B, Tenkasi Road, Ayikudy-627852 as an eligible project or scheme for a period of three years beginning with the assessment year 1995-96;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of construction and running of Phase-II of Rehabilitation Centre for handicapped at Ayikudy, Sencottai Taluk, Tirunelveli District of Tamilnadu comprising,---(a) expansion of home for handicapped; (b) addition of new rooms to school to provide education upto 8th standard; (c) establishment of physiotherapy and vocational centre of Amar Seva Sangam, Post Box No. 001, Sulochana Gardens, 7-4-104B, Tenkasi Road, Ayikudy-627 852 at the estimated cost of rupees fifty-four lakhs seven thousand only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1998-1999.
[No. 10596/F. No. NC-29/98]
Notification: S. O. 422(E)
Date of Issue: 19/5/1998
In exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government on the recommendations of the National Committee hereby approves the institutions specified in column (2) of the Table below and specifies the eligible projects or schemes and the estimated cost thereof as mentioned in column (3) of the said Table and also specifies in the column (4) of the said Table, the maximum amount of such cost which may be allowed as a deduction under the said section 35AC.
TABLE ------- Sl. Name of the Institutions Project or scheme and Maximum No. estimated cost thereof amount of cost to be allowed as deduction under section 35AC ------- (1) (2) (3) (4) ------- 1. Shri Bhojay Sarvodya Trust, Rural health camps and con- Rs. 60.00 lakhs C/o M/s. C. D. Prasad and Co., struction of 14 bedded Public plus a corpus fund Fairy Manor, 13, Gunbow Hospital at Bhojay, Kutch, of Rs. 100 lakhs. Street, Fort, Mumbai. Gujarat; likely to cost Rs. 90.00 lakhs plus a corpus fund of Rs. 100.00 lakhs. 2. Krishnamurti Foundation (a) Construction of Rural Pri- Rs. 28.60 lakhs. India, 64-65, Greenways mary School; and Road, Chennai-600 028 (b) Construction of Gynaecol- ogy Ward in Sanjeevan Hospi- tal; at Village Sarai Mohna, District Varanasi; likely to Cost Rs. 28.60 lakhs. 3. Society for Service to Vol- Running of Training Institute Rs. 60.00 lakhs. untary Agencies, Sharda- and Training Workshops at gram Park, "A" Wing, 3rd Zerewede, Pune; likely to cost Floor, Near Jehangir Nursing Rs. 180.00 lakhs Home, Pune-411 001. 4. Social Action for Man- (a) Construction of community Rs. 57.66 lakhs. power Creation (SAMPARC), hall-cum-training centre with Village-Bhage, Railway Station 12 rooms for accomodation of Malavali, Taluk-Maval, District trainees; Pune-410 405. (b) Child educational support programme; (c) Hostel in Wandre Project; (d) Women's Training pro- gramme; (e) Construction of extension building for Bhaje School; at Pune and surrounding areas of Maharashtra; likely to cost Rs. 117.49 lakhs. 5. Shri Baldevdas Charitable Purchase of Ambulance, instru- Rs. 45 lakhs plus Trust, 18-Raopura Co-operative ments and running of welfare a corpus fund of Housing Society, Near Mem- activities (Medical aid/camps, Rs. 30 lakhs. nagar Station, Navrangpura, distribution of foodgrain and Ahmedabad-9. clothes) of Shri Baldevdas Charitable Trust in Rural/Urban slums in Ahmedabad and nearby areas in Gujarat State; likely to cost Rs. 45.00 plus a corpus fund of Rs. 30 lakhs. 6. Sundeep Foundation, 118, Running of Health Care and Rs. 40 lakhs. Jolly Bhavan No. 1, 10, education activities at Kutch New Marine Lines, (Gujarat) and Dhule (Mahar- Mumbai-400 020. ashtra; likely to cost Rs. 50 lakhs. 7. The Blind Relief Association, Construction of school building Rs. 94.17 lakhs. South Ambazari Road, at Ambazari Road, Nagpur, Nagpur-440 022. Maharashtra; likely to cost Rs. 94.17 lakhs. 8. Parents Association for the Land development and con- Rs. 200 lakhs. Welfare of Children with Mental struction of school/vocational Handicap, Genetic Unit, training centre building for Department of Paediatric, mentally handicapped children A.I.I.M.S., Ansari Nagar, at Sector B, Site No. 3, Vasant New Delhi-110 029. Kunj, New Delhi; likely to cost Rs. 200 lakhs. 9. Eye Bank Co-ordination and Project "Eye Hope" at Mumbai Rs. 72.29 lakhs Research Centre, Manisha and surrounding areas; likely plus a corpus Hospital, Sant Savta Marg, to cost Rs. 72.29 lakhs plus a fund of Rs. Byculla, Mumbai-400 027. corpus fund of Rs. 112.50 112.50 lakhs. lakhs. 10. Hindu Anath Ashram, Nadiad, Construction of cultural hall and Rs. 53.44 lakhs. Ashram Road, P. O. Box No. 46, reading hall, furnishing and Nadiad, (Gujarat)-387 001. purchase of equipments for Anath Ashram at Ashram Road, Nadiad, Gujarat; likely to cost Rs. 53.44 lakhs. 11. Sri Kanchi Sankara Health and Purchase of equipments/vehi- Rs.2011.00 lakhs. Educational Foundation, Sri cles furnishing and construc- Sankardeva Nethralaya Basiatha tion of building for Sri Sankara Charali, P. O., Neltola, Deva Nethralya, Phase-I Exp- Guwahati-28 ansion Project at Guwahati, Assam; likely to cost Rs. 2015.38 lakhs. 12. Karnatak Health Institute, (a) Establishment of Mini Rs. 500 lakhs. Ghataprabha-591 310, District- Hydel Project at Gokak Canal, Belgaum, Karnataka State. Karnataka; and (b) Running of Hospital with freeship for poor patients at Ghataprabha, Belgaum district, Karnataka State; likely to cost Rs. 500 lakhs. 13. Lions Comprehensive Eye Care Construction of building for Rs. 297 lakhs. Foundation, Miraj, Plot No. P-31, expansion of hospital M.I.D.C., Miraj-416 410, District- purchase of equipments, Sangli, Maharashtra. vehicle, furnishing and running of Eye Hospital at M.I.D.C., Miraj, Sangli Dis- trict of Maharashtra; likely to cost Rs. 450 lakhs. 14. Radico Welfare Centre, 806-809, Uplift of urban slum dwellers Rs. 30 lakhs. Bhandari House, 91, Nehru Place, at--- New Delhi-110 019. (a) Dayal Singh Colony, Near West Front, Okhla; (b) Sarvodaya and Sudhar Camps at J. J. Cluster, Kalkaji, New Delhi; likely to cost Rs. 30 lakhs. 15. Environmental Sanitation Ins- Land development, purchase Rs. 125 lakhs. titute, 136, Gandhi Ashram, of equipments and mini bus, Ahmedabad-380 027. furnishing and construction of building for Environmental Sanitation Institute (ESI), Near Village Sughad, on Ahmedabad- Gandhinagar Highway, Gujarat; likely to cost Rs. 274 lakhs. -------
2. This notification shall remain in force for a period of one year in relation to the assessment year 1999-2000 in respect of projects or schemes mentioned at serial number 3 and for a period of three years in relation to the assessment years 1999-2000, 2000-2001 and 2001-2002 in respect of projects or schemes mentioned at serial numbers 1, 2, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14 and 15 of the said table.
[No. 10599/F. No. NC-29/98]
Notification: S. O. 423(E)
Whereas by Notification Number S. O. 469(E), dated 2nd July, 1996, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 11, Adivasi Tribal area health care, nutrition and educational development projects at Vansada Taluka of Bulsar District and Vijayanagar, Taluka of Sambarkantha District in Gujarat of Bhartiya Sewa Trust, Dr. Vanikar Samarak Bhawan, 11, Mahalaxmi Society, Paldi, Ahmedabad-380 007 as an eligible project or scheme for a period of two years beginning with the assessment year 1997-98;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of Adivasi Tribal area health care, nutrition and educational development projects at Vansada Taluka of Bulsar District and Vijayanagar, Taluka of Sambarkantha District in Gujarat of Bhartiya Sewa Trust, Dr. Vanikar Samarak Bhawan, 11, Mahalaxmi Society, Paldi, Ahmedabad-380 007, at the estimated cost of rupees twenty lakhs fifty four thousand only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.
[No. 10600/F. No. NC-29/98]
Notification: S. O. 425(E)
Whereas by Notification Number S. O. 206(E), dated 17th March, 1997, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 23, Rural Mobile Clinic of Hindu Mission Hospital---A Rural Outreach programme at rural villages around Tambaram, Tamil Nadu of Hindu Mission Hospital, 36, G. S. T. Road, Tambaram West, Chennai, Tamil Nadu-600 045 as an eligible project or scheme for a period of two years beginning with the assessment year 1997-98;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of Rural Mobile Clinic of Hindu Mission Hospital---A Rural Outreach programme at rural villages around Tambaram, Tamil Nadu of Hindu Mission Hospital, 36, G. S. T. Road, Tambaram West, Chennai, Tamil Nadu-600 045 at the estimated cost of rupees thirty lakhs only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.
[No. 10602/F. No. NC-29/98]
Notification: S. O. 426(E)
Whereas by Notification Number S. O. 711(E), dated 25th September, 1992, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 11, construction of a school building, hostel for mothers of the handicapped children and a training programme at Saraswathipuram, Mysore of Parents Association of Deaf, Children (Regd.), 273, 16th Main, Saraswathipuram, Mysore, as an eligible project or scheme for a period of three years beginning with the assessment year 1993-94 which was extended for a further period of three years, i.e., assessment year 1996-97, 1997-98 and 1998-99, vide S. O. No. 574(E), dated 27th June, 1995;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of construction of a school building, hostel for mothers of the handicapped children and a trainning programme at Saraswathipuram, Mysore of Parents Association of Deaf Children (Regd.), 273, 16th Main, Saraswathipuram, Mysore, at the estimated cost of rupees thirty-six lakhs only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.
[No. 10603/F. No. NC-29/98]
Notification: S. O. 427(E)
Whereas by Notification Number S. O. 973(E), dated 14th December, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 9, construction, furnishing and running of South Block of Ashram Sravana Old Age Home and Eye-cum-General Hospital at Ramanayyapeta village, near Kakinada Town of Association for the Care of the Aged, House No. 8-14-1, Mahalakshmi Nilayam, Gandhi Nagar, Kakinada-4 as an eligible project or scheme for a period of three years beginning with the assessment year 1996-97;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of construction, furnishing and running of South Block of Ashram Sravana Old Age Home and Eye-cum-General Hospital at Ramanayyapeta village, near Kakinada Town of Association for the Care of the Aged, House No. 8-14-1, Mahalakshmi Nilayam, Gandhi Nagar, Kakinada-4, at the estimated cost of rupees nine lakhs seventy thousand only as an eligible project or scheme for a further period of two assessment years commencing from the assessment year 1999-2000.
[No. 10604/F. No. NC-29/98]
Notification: S. O. 428(E)
Whereas by Notification Number S. O. 844(E), dated 17th October, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 6, construction, equipment, and running of Rural General Hospital at Chorwad, District Junagarh, Saurashtra, Gujarat of Kanta Laxmi Mohanlal Pathak Foundation, 1504, Dalamal Chambers, 29, New Marine Lines, Mumbai-400 020 as an eligible project or scheme for a period of three years beginning with the assessment year 1996-97;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of construction, equipment, and running of Rural General Hospital at Chorwad, District Junagarh, Saurashtra, Gujarat of Kanta Laxmi Mohanlal Pathak Foundation, 1504, Dalamal Chambers, 29, New Marine Lines, Mumbai-400 020, at the estimated cost of rupees one hundred nine lakhs only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.
[No. 10605/F. No. NC-29/98]
Notification: S. O. 429(E)
Whereas by Notification Number S. O. 844(E), dated 17th October, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 11, construction of Phase-II of Orphanage Child Care Centre at Plot No. P-37, Residential Zone, MIDC, Dombivli, Thane of Janani Ashish Charitable Trust, Plot P-37, MIDC, Residential Zone, Dombivli, Thane-421 201 as an eligible project or scheme for a period of three years beginning with the assessment year 1996-97;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of construction of Phase-II of Orphanage Child Care Centre at Plot No. P-37, Residential Zone, MIDC, Dombivli, Thane of Janani Ashish Charitable Trust, Plot P-37, MIDC, Residential Zone, Dombivli, Thane-421 201, at the estimated cost of rupees twenty-eight lakhs sixty thousand only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.
[No. 10606/F. No. NC-29/98]
Notification: S. O. 430(E)
Whereas by Notification Number S. O. 740(E), dated 12th October, 1994 issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 5, Health for all comprising running of 50 beded hospital, general dispensary, child and mother care centre, T. B. Clinic and conducting medical camps of Pneumatic heart diseases at Village Bidada, Taluka Mandvi of Kutch, Gujarat of Shree Bidada Sarvodaya Trust, C/o Laxmichand Vishaji Rambhai, Plot No. 62, Dattashram, 2nd Floor, Sir Bhalchandra Road, Hindu Colony, Road No. 2, Dadar (C. R.), Mumbai-400 014 as an eligible project or scheme for a period of two years beginning with the assessment year 1995-96 which was further extended for two more years, i.e., assessment years 1997-98 and 1998-99, vide S. O. 215(E), dated 19th March, 1996;
And whereas the said project or scheme is likely to extend beyond four years;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of Health for all comprising running of 50 bedded hospital, general dispensary, child and mother care centre, T. B. Clinic and conducting medical camps of Pneumatic heart diseases at Village Bidada, Taluka Mandvi of Kutch, Gujarat of Shree Bidada Sarvodaya Trust, C/o Laxmichand Vishaji Rambhai, Plot No. 62, Dattashram, 2nd Floor, Sir Bhalchandra Road, Hindu Colony, Road No. 2, Dadar (C. R.), Mumbai-400 014, at the estimated cost of rupees one crore eighty-seven lakhs seventy one thousand only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.
[No. 10607/F. No. NC-29/98]
Notification: S. O. 432(E)
Date of Issue: 20/5/1998
Whereas by Notification Number S. O. 713(E), dated 8th August, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 7, construction, furnishing and running of Childcare Workers (Balasevika) Training Centre at Chennai of Indian Council for Child Welfare, Tamil Nadu, 5-111, Main Road, West Shenoy Nagar, Chennai-600 030 as an eligible project or scheme for a period of three years beginning with the assessment year 1996-97;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of construction, furnishing and running of Childcare Workers (Balasevika) Training Centre at Chennai of Indian Council for Child Welfare, Tamil Nadu, 5-111, Main Road, West Shenoy Nagar, Chennai-600 030, at the estimated cost of rupees eighty-seven lakhs twenty-eight thousand only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.
[No. 10608/F. No. NC-29/98]
Notification: S. O. 433(E)
Whereas by Notification Number S. O. 267(E), dated 29th March, 1994, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 14, construction of fully equipped hospital named as Ramco Apollo diagnostic Centre, Rajapalayam-626 117, kamarajar District, Tamil Nadu, provided that (a)(i) 40 per cent. of common clinical test are provided free and 25 per cent. at concessional rate; (ii) 25 per cent. X-Rays and ECG tests are provided free and 25 per cent. at concessional rate; and (iii) 25 per cent. other routine tests free and 25 per cent. at concessional rate; (b)(i) Free treatment is given to those patients whose family income does not exceed Rs. 10,000; (ii) 25 per cent. to 35 per cent. to patients with annual family income between Rs. 10,000 to Rs. 15,000 of P.A.C. Ramasamy Raja Centenary Trust, "Ramamandiram" Tenkasi Road, Rajapalayam, Tamil Nadu, as an eligible project or scheme for a period of two years beginning with the assessment year 1994-95 which was further extended for a period of two years, i.e., assessment years 1996-97 and 1997-98, vide S. O. No. 180(E), dated 9th March, 1995;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of construction of fully equipped hospital named as Ramco Apollo diagnostic Centre, Rajapalayam-626 117, kamarajar District, Tamil Nadu, provided that (a)(i) 40 per cent. of common clinical test are provided free and 25 per cent. at concessional rate; (ii) 25 per cent. X-Rays and ECG tests are provided free and 25 per cent. at concessional rate; and (iii) 25 per cent. other routine tests free and 25 per cent. at concessional rate; (b)(i) Free treatment is given to those patients whose family income does not exceed Rs. 10,000; (ii) 25 per cent. to 35 per cent. to patients with annual family income between Rs. 10,000 to Rs. 15,000 of P.A.C. Ramasamy Raja Centenary Trust, "Ramamandiram" Tenkasi Road, Rajapalayam, Tamil Nadu at the estimated cost of rupees three hundred eighty-six lakhs only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1998-99.
[No. 10609/F. No. NC-29/98]
Notification: S. O. 434(E)
Whereas by Notification Number S. O. 193(E), dated 14th March, 1996, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 8, project for development and extension of Institution of Nootan Bharati---(a) Gram Vidyapeeth; (b) Rural Technical Institution; (c) Primary Health Care Service Hospital, ICDs and Women and Children Welfare Activities; (d) Hostel for ladies students; and (e) Hostel for backward class students; at village Madanagadh, Gujarat of Nootan Bharati, Madanagadh, Tal. Palanpur, District Banaskantha, Gujarat as an eligible project or scheme for a period of two years beginning with the assessment year 1997-98;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of project for development and extension of Institution of Nootan Bharati---(a) Gram Vidyapeeth; (b) Rural Technical Institution; (c) Primary Health Care Service Hospital, ICDs and Women and Children Welfare Activities; (d) Hostel for ladies students; and (e) Hostel for backward class students; at village Madanagadh, Gujarat of Nootan Bharati, Madanagadh, Tal. Palanpur, District Banaskantha, Gujarat, at the estimated cost of rupees one hundred ninety-three lakhs fifty thousand only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.
[No. 10610/F. No. NC-29/98]
Notification: S. O. 435(E)
Whereas by Notification Number S. O. 521(E), dated 14th July, 1994, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 7---(a) Free Eye Camps at local villages of Saurashtra and Gujarat; (b) Mobile Services and Health Education surrounding Virnagar, Rajkot District of Gujarat; (c) Hostel for ladies at Virnagar; and (d) Construction of low cost latrines in 15 villages of Rajkot of Shivanand Mission, Saurashtra Central Group of hospitals, Virnagar-360 060, District Rajkot, Gujarat, as an eligible project or scheme for a period of two years beginning with the assessment year 1995-96 which was extended for a period of two more years, i.e., assessment years 1997-98 and 1998-99, vide S. O. No. 414(E), dated 7th June, 1996;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of---(a) Free Eye Camps at local villages of Saurashtra and Gujarat; (b) Mobile Services and Health Education surrounding Virnagar, Rajkot District of Gujarat; (c) Hostel for ladies at Virnagar; and (d) Construction of low cost latrines in 15 villages of Rajkot of Shivanand Mission, Saurashtra Central Group of hospitals, Virnagar-360 060, District Rajkot, Gujarat, at the estimated cost of rupees one hundred thirty-six lakhs only as an eligible project or scheme for a further period of three assessment years commencing from the assessment years 1999-2000.
[No. 10611/F. No. NC-29/98]
Notification: S. O. 436(E)
Whereas by Notification Number S. O. 224(E), dated 16th March, 1994, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 2, construction of building of Arts and Commerce College, Rural Science and Pharmacy College, Industrial Training Institute and Hostel at Shardagram of Shree Bharat Saraswati Mandir Sansad, via, Mangrol, District Junagarh, Gujarat, as an eligible project or scheme for a period of two years beginning with the assessment year 1994-95 which was extended for a period of two more years, i.e., assessment years 1997-98 and 1998-99, vide S. O. No. 95(E), dated 2nd February, 1996;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of construction of building of Arts and Commerce College, Rural Science and Pharmacy College, Industrial Training Institute and Hostel at Shardagram of Shree Bharat Saraswati Mandir Sansad, via, Mangrol, District Junagarh, Gujarat, at the estimated cost of rupees two crores fifteen lakhs twenty-five thousand only as an eligible project or scheme for a further period of three assessment years commencing from the assessment years 1999-2000.
[No. 10612/F. No. NC-29/98]
Notification: S. O. 437(E)
Whereas by Notification Number S. O. 878(E), dated 30th November, 1992, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 4, Research and Rehabilitation Centre for the Deaf of Delhi Association of the Deaf, Regd. Office 92, Kamla Market, New Delhi-110 002, as an eligible project or scheme for a period of three years beginning with the assessment year 1993-94 which was extended for further period of three years, i.e., assessment years 1996-97, 1997-98 and 1998-99, vide S. O. No. 404(E), dated 3rd May, 1995;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of Research and Rehabilitation Centre for the Deaf of Delhi Association of the Deaf, Regd. Office 92, Kamla Market, New Delhi-110 002, at the estimated cost of rupees one crore only as an eligible project or scheme for a further period of three assessment years commencing from the assessment years 1999-2000.
[No. 10613/F. No. NC-29/98]
Notification: S. O. 438(E)
Whereas by Notification Number S. O. 878(E), dated 30th November, 1992, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 3, Integrated Rural Development Project of Jankidevi Bajaj Gram Vikash Sanstha, 55/4, University Road, Aundh, Pune-411 007, as an eligible project or scheme for a period of three years beginning with the assessment year 1993-94 which was extended for a further period of three years, i.e., assessment years 1996-97, 1997-98 and 1998-99, vide S. O. No. 293(E), dated 4th April, 1995;
And whereas the National Committee, being satisfied that the said project or scheme is being executed properly, made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules, 1962, for specifying the said project or scheme for a further period of three years and enhancing the approved cost from rupees one hundred eighteen lakhs to rupees one hundred eighteen lakhs to rupees one hundred eighty lakhs sixty thousand only;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of Integrated Rural Development Project of Jankidevi Bajaj Gram Vikash Sanstha, 55/4, University Road, Aundh, Pune-411 007, at the estimated cost of rupees one hundred eighty lakhs sixty thousand only as an eligible project or scheme for a further period of three assessment years commencing from the assessment years 1999-2000.
[No. 10614/F. No. NC-29/98]
Notification: S. O. 444(E)
Date of Issue: 21/5/1998
In exercise of the powers conferred by sub-section (1) of section 54EA of the Income-tax Act, 1961, the Central Board of Direct Taxes hereby specifies the following shares and debentures as long-term specified securities, for the purpose of the said section, namely:---
(a) Shares to be issued M/s. Reliance Patalganga Power Ltd., a public company registered under the Indian Companies Act, 1956, and having its registered office at Shree Ram Mills premises, 3rd Floor, Ganapat Rao Kadam Marg, Worli, Mumbai, within one year from the date of publication of this notification, of an amount not exceeding Rs. 462.39 crores which are not transferable before three years after their allotment; and
(b) Debentures to be issued M/s. Reliance Patalganga Power Ltd., a public company registered under the Indian Companies Act, 1956, and having its registered office at Shree Ram Mills premises, 3rd Floor, Ganapat Rao Kadam Marg, Worli, Mumbai, within one year from the date of publication of this notification, of an amount not exceeding Rs. 1,078.91 crores which are not transferable or convertible before three years after their allotment
[Notification No. 10615/F. No. 178/135/97-ITA-I]
Notification: S. O. 1086
Date of Issue: 25/5/1998
It is notified for general information that M/s. Global Housing Finance Corporation Ltd., A-Wing, 307, Mittal Towers, Nariman Point, Mumbai-21 have been approved by the Central Government as a Housing Finance Company for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1997-98 to 1999-2000.
[Notification No. 10616/F. No. 204/21/96-ITA-II]
Notification: S. O. 1087
It is notified for general information that Berar Housing Finance Limited, J. P. Chambers, South Ambazari Road, Shraddhanandpeth, Nagpur, has been approved by the Central Government as a Housing Finance Company for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1997-98 to 1999-2000.
[Notification No. 10617/F. No. 204/31/96-ITA-II]
Notification: S.O. 467(E)
Section(s) Referred: 54EA, 54EA(1)
Date of Issue: 27/5/1998
In exercise of the powers conferred by sub-section (1) of section 54EA of the Income-tax Act, 1961, the Central Board of Direct Taxes hereby specifies :
(a) equity to be issued within a period of one year from the date of publication of this notification in the Official Gazette of an amount not exceeding Rs. 913 crores by the Reliance Power Ltd., a public company registered under the Indian Companies Act, 1956, and having its registered office at Avdesh House, 3rd Floor, Pritam Nagar, 1st Slope, Ellis Bridge, Ahmedabad--380 006 ; and
(b) bonds to be issued within a period of one year from the date of publication of this notification in the Official Gazette of an amount not exceeding Rs. 2,132 crores by the Reliance Power Ltd., a public company registered under the Indian Companies Act, 1956, and having its registered office at Avdesh House, 3rd Floor, Pritam Nagar, 1st Slope, Ellis Bridge, Ahmedabad--380 006 :
Provided that the investment in the aforesaid equity and bonds is made by an assessee out of his income chargeable to tax under the head "Capital gains" arising out of transfer of long-term capital asset :
Provided further that in case the assessee transfers aforesaid equity and bonds allotted to him in any manner within a period of three years from the date of their allotment, the initial investment made by such assessee in the aforesaid equity and bonds shall be chargeable to tax under the head "Capital gains" in accordance with the provisions of sub-section (2) of section 43EA of the Income-tax Act, 1961.
(Sd.) Promila Bhardwaj, Deputy Secretary to the Government of India.
[Notification No. 10622/F. No. 178/134/97-ITA-I]
Notification: S.O. 469(E)
In exercise of the powers conferred by sub-section (1) of section 54EA of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies the following bonds as long term specified securities, for the purpose of the said section, namely :--
Bonds to be issued by the Wind Energy System Care (India) Ltd., Chennai, a public company registered under the Indian Companies Act, 1956 and having its registered office at Rani Arcade, 24, 1st Avenue, Ashok Nagar, Chennai 600 083, within one year from the date of publication of this notification, of an amount not exceeding Rs. 45 crores which are not transferable before three years after their allotment.
[Notification No. 10619/F. No. 178/29/98-ITA-I]
Notification: S.O. 470(E)
In exercise of the powers conferred by sub-section (1) of section 54EB of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies the following bonds as long-term specified securities, for the purpose of the said section, namely :--
Bonds to be issued by the Wind Energy System Care (India) Ltd., Chennai, a public company registered under the Indian Companies Act, 1956 and having its registered office at Rani Arcade, 24, 1st Avenue, Ashok Nagar, Chennai 600 083, within one year from the date of publication of this notification, of an amount not exceeding Rs. 45 crores which are not transferable before seven years after their allotment.
[Notification No. 10620/F. No. 178/29/98-ITA-I]
Notification: S.O. 468(E)
(a) equity to be issued within a period of one year from the date of publication of this notification in the Official Gazette, of an amount not exceeding Rs. 1,524.3 crores by the Reliance Telecom Ltd., a public company registered under the Indian Companies Act, 1956 and having its registered office at Avdesh House, 3rd Floor, Pritam Nagar, 1st Slope, Ellis Bridge, Ahmedabad--380 006 ; and
(b) debentures to be issued within a period of one year from the date of publication of this notification in the Official Gazette of an amount not exceeding Rs. 762.2 crores by the Reliance Telecom Ltd., a public company registered under the Indian Companies Act, 1956, and having its registered office at Avdesh House, 3rd Floor, Pritam Nagar, 1st Slope, Ellis Bridge, Ahmedabad--380 006 ;
Provided that the investment in the aforesaid equity and debentures is made by an assessee out of his income chargeable to tax under the head "Capital gains" arising out of transfer of long-term capital asset :
Provided further that in case the assessee transfers aforesaid equity and debentures allotted to him in any manner within a period of three years from the date of their allotment the initial investment made by such assessee in the aforesaid equity and debentures shall be chargeable to tax under the head "Capital gains" in accordance with the provisions of sub-section (2) of section 54EA of the Income-tax Act, 1961.
[Notification No. 10627/F. No. 178/149/97-ITA-I]
Notification: S.O. 476(E)
Date of Issue: 29/5/1998
In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely :--
This notification contains amendment to Income-tax (Eighth Amendment) Rules, 1998 carried out on 29-5-1998 not reproduced here as it is already contained in the body of the rules itself.
Notification: S. O. 1153
Date of Issue: 3/6/1998
It is notified for general information that M/s. India Renewable Energy Development Agency Ltd., Core-4-A, East Court, India Habitat Centre Complex, 1st Floor, Lodhi Road, New Delhi-110 003, has been approved by the Central Government for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1998-99 and 1999-2000.
[Notification No. 10624/F. No. 204/27/96-ITA-II]
Notification: S. O. 1154
It is notified for general information that M/s. Transcrop Housing Finance Ltd., Meghalaya Tower, Church Road, Jaipur-302 001, has been approved by the Central Government for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1998-99 and 1999-2000.
[Notification No. 10625/F. No. 204/44/95-ITA-II]
Notification: S. O. 1194
Date of Issue: 11/6/1998
It is notified for general information that M/s. Housing and Urban Development Corporation Ltd., Hudco Bhawan, India Habitat Centre, Lodhi Road, New Delhi-3, has been approved by the Central Government for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1998-99 and 1999-2000.
[Notification No. 10628/F. No. 204/11/97-ITA-II]
Top of Form
Notification: S. O. 1195
It is notified for general information that M/s. Tamilnadu Power Finance and Infrastructure Development Corporation Ltd., 84, T. T. K. Road, Alwarpet, Chennai-18, has been approved by the Central Government for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1998-99 and 1999-2000.
[Notification No. 10627/F. No. 204/15/96/ITA-II]
Notification: S. O. 1344
Date of Issue: 30/6/1998
In exercise of the powers conferred by clause (viii) of sub-section (1) of section 36 of the Income-tax Act, 1961, the Central Government hereby makes the following corrections in Notification No. 10625, dated 3-6-1998, in even number:
"The name of the company, i.e., Transcrop Housing Finance Ltd. should be read as Transcorp Housing Finance Ltd."
[Notification No. 10630/F. No. 204/44/95/ITA-II]
Notification: S. O. 543(E)
Section(s) Referred: s. 139A(4)
In exercise of the powers conferred by sub-section (4) of section 139A of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following amendments in the notification of the Government of India, Ministry of Finance, Department of Revenue, Central Board of Direct Taxes No. S.O. 354(E), dated 28th April, 1998, and specifies the date from which the person referred to in sub-sections (1) and (2) of section 139A of the Income-tax Act, 1961 (43 of 1961), and other persons who have been allotted permanent account members, other than under the new series, shall apply to the Assessing Officer for the allotment of a permanent account number under the new series, namely:---
In the said notification,----
(a) In paragraph 1, after clause (b), for the words, figures and letters "shall apply before the 30th day of June, 1998, in respect of assessment year 1997-98", the words, figures and letters "shall apply before the 31st day of August, 1998 in respect of assessment year 1997-98" shall be substituted.
(b) In paragraph 2, for the words, figures and letters "shall apply for the allotment of a permanent account number under the new series to the Assessing Officer, having jurisdiction in respect of such person, on or before the 30th day of June of the relevant assessment year", the following shall be substituted, namely:---
"shall apply for the allotment of a permanent account number under the new series to the Assessing Officer, having jurisdiction in respect of such person,---
(a) before the 31st day of August in respect of assessment year 1998-1999;
(b) on or before the 30th day of June in respect of assessment year 1999-2000 or any subsequent assessment year;"
(Sd.) D. Karunakara Rao, Under Secretary to the Government of India. [Notification No. 10631/F. No. 142/1/98-TPL]
Notification: S.O.543(E)
Section(s) Referred: 139A
In excercise of the powers conferred by sub-section (4) of section 139A of the Income-Tax Act,1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following amendments in the notification of the Government of India, Ministry of Finance, Department of Revenue, Central Board of Direct Taxes No. S. O. 354(E), dated 28th April, 1998, and specifies the date from which the person refered to in sub-sections (1) and (2) of section 139A of the Income-Tax Act, 1961(43 of 1961), and other persons who have been alloted permanent account numbers, other than under the new series, shall apply to the Assessing Officer for the allottment of a permanent account number under the new series, namely:-
In the said notification,-
(a)In paragraph 1, after clause(b), for the words, figures and letters "shall apply before the 30th day of June, 1998, in respect of assessment year 1997-98", the words, figures and letters "shall apply before the 31st day of August, 1998 in respect of assessment year 1997-98" shall be substituted.
(b) In paragraph 2, for the words, figures and letters 'shall apply for the allotment of a permanent account number under the new series to the Assessing Officer, having jurisdiction in respect of such person, on or before the 30th day of June of the relevant assessment year", the following shall be substituted, namely :-
"shall apply for the allotment of a permanent account number under the new series to the Assessing Officer, having jurisdiction in respect of such person, -
(a) before the 31st day of August in respect of assessment year 1998-1999 ;
(b) on or before the 30th day of June in respect of assessment year 1999-2000 or any subsequent assessment year; ".
(Sd.) D. Karunakara Rao, Under Secretary to the Government of India [Notification NO. 10631/F. No. 142/1/98-TPL]
Notification: 10632
Section(s) Referred: 35AC
Date of Issue: 2/7/1998
In exercise of the powers conferred by sub-section (1), read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government on the recommendations of the National Committee, hereby approves the institutions mentioned in column (2) of the Table below and specifies the eligible projects or schemes and the estimated cost thereof as mentioned in column (3) of the said Table and also specifies in the column (4) of the said Table, the maximum amount of such cost which may be allowed as deduction under said section 35AC.
TABLE
------- Serial Name of the Project or Scheme Maximum amount of Institutions and estimated cost cost to be allowed thereof as deduction under Section 35AC ------- (1) (2) (3) (4) ------- 1. Valluvar Gurukulam, Construction of Rs. 123.00 lakhs plus 74, G.S.T Road, building for school a corpus fund of with all facilities, Rs. 37.00 lakhs. purchase of equipments/ materials at Tambaram, Chennai; likely to cost Rs. 160.00 lakhs including a corpus fund of Rs. 37.00 lakhs.
2. Gram Nirman Kelvani Repair and construction Rs. 250.00 lakhs Mandal-Thava, of building, purchase Post: Thava, of equipments at Thava, Valia, District - Taluka:Valia,Bharuch Bharuch, Gujarat. District of Gujarat; likely to cost Rs. 250.00 lakhs.
3. Thakershy Charitable Purchase of equipments Rs. 64.00 lakhs plus Trust, and development/ a corpus fund of Behind Jai-Shefali Row updating of hospital Rs. 50.00 lakhs. Houses, Office - at Ambawadi, Ahmedabad, Satellite Road, Gujarat; likely to cost Ambawadi, Rs. 114.00 lakhs Ahmedabad-15. including a corpus fund of Rs. 50.00 lakhs.
4. Shri Navchetan Purchase of equipments Rs. 350.00 lakhs plus Education Society- furnishing, running and a corpus fund of Valia, Valia, construction of Rs. 100.00 lakhs. Bharuch, building for Shri Rang Gujarat-393135. Navchetan Mahila College at Valia, District Bharuch of Gujarat: likely to cost Rs. 450.00 lakhs.
5. The Chanasma Nagarik Running of General Rs.100.00 lakhs as sahakari Bank Ltd. Hospital and Maternity corpus fund. Medical & Social Home at Chanasma Development Trust, Gujarat;likely to cost Near Bus Stand, Rs.1,000.00 lakhs. P.O.Chanasma-384220, Distt.Patan,N,Gujarat.
6. Blind Men's Construction of Rs.160.00 lakhs plus Association building,Centre for a corpus fund of Dr.Vikram Sarabhai comprehensive Rs.50.00 lakhs. Road, Vastrapur, rehabilitation,medical Ahmedabad, and Human Resource Gujarat-380015 Development of Blind and Disabled persons at Bareja,Ahmedabad,Gujarat; likely to cost Rs.210.00 lakhs including a corpus fund of Rs.50.00 lakhs.
7. Duraisamy Generous Construction of Rs.18.30 lakhs. Social Education building for high school Association, at Vilvarayanallur, Vilvarayanallur, Madurantakam,Guntur, Pakkam Post, Andhra Pradesh;likely Madurantakam Taluk, to cost Rs.18.30 lakhs. Kancheepuram, Tamil Nadu.
8. Shri Gadhsisa Construction of Rs.18.30 lakhs. Sarvajanik primary school building Gram Vikash Mandal, for girls at Gadhsisa C/o Karamshi Pancham Village, Taluka-Mandvi- Patel,Gadhsisa,Mandvi Kutch,Gujarat;likely to Taluk,Kutch-370445, cost RS.21.64 lakhs. Gujarat.
9. Rotary Club of Salem Development of Burial Rs.22.00 lakhs. Gugai Public Burial Ground with all Ground(Gugai) facilities at Development Trust, Erumapalayam,Gugai/ 37A,East Street No.1, Salem,Tamilnadu; Karungalpatti, likely to cost Salem-636006, Rs.31.60 lakhs. Tamil Nadu.
10. Shri Apang Construction of Rs. 32.47 lakhs Abhyudaya Mandal, building for school, Sola Gandhinagar hostel and residence Highway, opp.New quarters at Village High Court-Sola, Sola, Daskroi Taluk, Ahmedabad. District Agendabad, Gujarat; likely to cost Rs. 32.47 lakhs.
11. Youth for Unity and Social service centre- Rs. 200.19 lakhs Voluntary Action cum-training complex (Yuva), 8, Ground at Khar Ghar, Mumbai; Floor, 33L, Mhatre likely to cost Building, Mugbhat Rs. 200.19 lakhs. Cross Lane, Girgaum, Mumbai-4.
12. Sarva Vidyalaya Purchase of equipments, Rs. 117.00 lakhs Kelveni Mandal-Kadi, furnishing and Sarva Vidyalaya Campus, construction of mini Kadi-382715,Distt. stadium at Kadi, Gujarat; Mehsana, Gujarat. likely to cost Rs. 117.00 lakhs.
13. Sankar Foundation, Purchase of equipments Rs. 104.51 lakhs Flat No. 38, and running of hospital D. No. 7-8-23/1(13), projects at Vishakpatnam, Maharaja Towers, Andhra Pradesh; likely Visakhapatnam-530003. to cost Rs. 104.51 lakhs.
14. National Association (a) Education of blind Rs.280.35 lakhs for the Blind, India, children in ordinary school plus a corpus 11, Khan Abdul Gaffar along with sighted fund of Khan Road, Worli children; Rs.124.00 lakhs Seaface, Mumbai-400025. (b) NAB Sir J. Duggan Braille Press, NAB Jitendra Mafatlal Mehta Computerised Braille Production Centre; (c) Prevention of blindness- Glaucoma; (d) NAB M.P.Shah All India Talking Book Centre;and (e) Services for Multi- Disabled Blind Children; at Mumbai, Maharashtra; likely to cost Rs.404.35 lakhs including a corpus fund of Rs.124.00 lakhs.
-------
2. This notification shall remain in force for a period of three years in relation to assessment years 1999-2000, 2000-2001 and 2001-2002 in respect of projects or schemes mentioned in the said table.
Notification: 10633
Section(s) Referred: 35AC ,35AC(1)
In exercise of the powers conferred by sub-section (1) , read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government on the recommendations of the National Committee hereby amends the notification of Government of India, Ministry of Finance (Department of Revenue) S.O.862(E), dated the 12th December, 1997 namely:-
In the said notification in column 3, against Serial No. 6, for the words "Construction, furnishing and equipments of rural community hospital, canteen, dharmshala and staff quarters for hospital staff at Chennai, Tamilnadu", the words "Purchase and running of Willingdon Hospital, Chennai, Tamilnadu" shall be substituted
Notification: 10634
Whereas by notification number S.O.973(E) dated the 14th December, 1995 issued under sub-section(1), read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 3, Construction, furnishing and equipments of school building at Govindpuri, Kalkaji Extension, Delhi of Deepalaya, G.No. 12, Shivaji Enclave, New Delhi - 110027 as an eligible project or scheme for a period of three years beginning with assessment year 1996-97;
AND WHEREAS the said project or scheme is likely to extend beyond three years;
AND WHEREAS the National Committee, being satisfied that the said project or scheme is being executed properly, made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules, 1962 for specifying the said project or scheme for a further period of three years;
NOW, THEREFORE, the Central Government, in exercise of the powers conferred by sub-section (1), read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of Construction, furnishing and equipments of school building at Govindpuri, Kalkaji Extension, Delhi of Deepalaya, G.No. 12, Shivaji Enclave, New Delhi - 110027, at the estimated cost of rupees one hundred eighty-six lakhs only as an eligible project or scheme for a further period of three assessment years commencing from assessment year 1999-2000.
Notification: 10635
Whereas by Notification Number S.O.713(E), dated the 8th August, 1995 as amended by S.O.188(E) dated the 12th March, 1997 issued under sub-section (1), read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 4, (a) Sports Coaching Foundation capital nature project; (b) Sports Coaching Foundation revenue nature project; at Masab Tank, Hyderabad, Andhra Pradesh of the Sports Coaching Foundation, 203, Crescent Towers, Masab Tank Hyderabad-500028 as an eligible project or scheme for a period of three years beginning with assessment year 1996-97;
NOW, THEREFORE, the Central Government, in exercise of the powers conferred by sub-section (1), read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of (a) Sports Coaching Foundation capital nature project; (b) Sports Coaching Foundation revenue nature project; at Masab Tank, Hyderabad, Andhra Pradesh of the Sports Coaching Foundation, 203, Crescent Towers, Masabd Tank Hyderabad - 500028, at the estimated cost of rupees forty-two lakhs eighty-six thousand only as an eligible project or scheme for a further period of three assessment years commencing from assessment year 1999-2000.
Notification: 10636
Whereas by Notification Number S.O. 711(E), dated the 25th September, 1992 issued under sub-section(1), read with clause(b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 2 the (i)PYOH II US Aid (ii)Construction of low-cost houses, (iii)Jaipur District Rural Health Project, (iv)Poultry Raising and Garment making for rural women of Jaipur Rural Health and Development Trust, B-7, Shiv Marg Park, Jaipur as as eligible project or scheme for a period of three years beginning with assessment year 1993-94 which was extended by a period of three more years beginning with assessment year 1996-97 by Notification Number S.O.575(E), dated the 27th June,1995;
AND WHEREAS the said project or scheme is likely to extend beyond six years;
AND WHEREAS the National Committee, being satisfied that the said project scheme is being executed properly, made a furthur recommendation under sub-rule(5) of rule 11M of the Income-tax Rules, 1962 for specifying the said project or scheme for a furthur period of three years;
Now, THEREFORE, the Central Government, in exercise of the powers conferred by sub-section(1), read with clause(b) of the Explanation to section 35AC of the Income-tax Act, 1961(43 of 1961), hereby specifies the scheme or project of the (i)PYOH II US Aid, (ii)Construction of low-cost houses, (iii)Jaipur District Rural Health Project, (iv)Poultry Raising and Garment making for rural women of Jaipur Rural Health and Development Trust, B-7, Shiv Marg Bani Park, Jaipur, without change in the approved cost as an eligible project or scheme for a furthur period of three assessment years commencing from assessment year 1999-2000
Notification: 10637
Whereas by Notification Number S.O.471(E), dated the 26th May,1995 issued under sub-section(1), read with clause(b) of the Explanation to section #%AC of the Income-tax Act, 1961(43 of 1961), the Central Government had specified at serial number 3, free eye services through Shri.R.M.Eye Hospital and free mobile camps in rural and adivasi villages of Chikhodra, Baroda, Gujarat of Gujarat Blind Relief and Health Association, Shri R.M.Eye Hospital, Chikhodra, via Anand, District Kheda, Gujarat-388320 as an eligible projector or scheme for a period of three years beginning with assessment year 1996-97
AND WHEREAS the National Committee, being satisfied that the said project or scheme is being executed properly, made a furthur recommendation under sub-rule(5) of rule 11M of the Income-tax Rules,1962 for specifyingt the said project or scheme for a furthur period of three years;
NOW,THEREFORE, the Central Government, in exercise of the powers conferred by sub-section(1), read with clause(b) of the Explanation to section 35AC of the Income-tax Act,1961(43 of 1961), hereby specifies the scheme or project of free eye services through Shri R.M.Eye Hospital and free mobile camps in rural and adivasi villages of Chikhodra, Baroda, Gujarat of Gujarat Blind Relief and Health Association, Shri R.M.Eye Hospital, Chikhodra, via Anand, District Kheda, Gujarat-388320, at the estimated cost of rupees one hundred four lakhs only as an eligible project or scheme for a furthur period of three assessment years commencing from assessment year 1999-2000
Notification: S. O. 549(E)
TABLE ------- Sl. Name of the institutions Project or scheme and Maximum No. estimated cost thereof amount of cost to be allowed as deduction under section 35AC ------- (1) (2) (3) (4) ------- 1. Valluvar Gurukulam, 74, Construction of building for school Rs. 123 lakhs plus G.S.T. Road, Tambaram, with all facilities, purchase of a corpus fund of Chennai-45. equipments/materials at Rs.37 lakhs. Tambaram, Chennai; likely to cost Rs. 160 lakhs including a corpus fund of Rs. 37 lakhs.
2. Gram Nirman Kelvani, Repair and construction of building, Rs. 250 lakhs. Mandal-Thava, post: purchase of equipments at Thava, Thava, Valia, District- Taluka : Valia, Bharuch District of Gujarat: likely to cost Rs. 250 lakhs.
3. Thakershy Charitable Purchase of equipments and dev- Rs. 64 lakhs plus Trust, Behind Jai-Shefali lopment/updating of Hospital at a corpus fund of Raw, Houses, Office-Satel- Ambawadi, Ahmedabad Gujarat; Rs. 50 lakhs. lite Road, Ambawadi, likely to cost Rs. 114 lakhs Ahmedabad-15. including a corpus fund of Rs. 50 lakhs.
4. Shri Navchetan Educa- Purchase of equipments, furnish- Rs.350 lakhs plus tion Society-Valia, Valia, ing, running and construction of a corpus fund of Bharuch, Gujarat-393 135 building for Shri Rang Navchetan Rs. 100 lakhs. Mahila College at Valia, District Bharuch of Gujarat; likely to cost Rs. 450 lakhs.
5. The Chanasma Nagarik Running of General Hospital and Rs. 100 lakhs as Sahakari Bank Ltd., Medi- Maternity Home at Chanasma, corpus fund. cal and Social Develop- Gujarat; likely to cost Rs. 1,000 ment Trust, Near Bus lakhs. Stand, P. O. Chanasma- 384 220, Distt. Patan, Gujarat.
6. Blind Men's Association, Construction of building, Centre Rs. 160 lakhs plus Dr. Vikram Sarabhai Road, for comprehensive rehabilitation, a corpus fund of Vastrapur, Ahmedabad, medical and Human Resource Rs. 50 lakhs. Gujarat-380 015. Development of Blind and Dis- abled persons at Bareja, Ahmedabad, Gujarat; likely to cost Rs. 210 lakhs including a corpus fund of Rs. 50 lakhs.
7. Duraisamy Generous Construction of building for high Rs. 18.30 lakhs. Social Education Associa- school at Vilvarayanallur, tion, Vilvarayanallur, Madurantakam, Guntur, Andhra Pakkam Post, Maduran- Pradesh; likely to cost Rs. 18.30 takam Taluk, Kanchee- lakhs. puram, Tamil Nadu.
8. Shri Gadhsisa Sarvajanik Construction of primary school Rs. 18.30 lakhs. Gram Vikash Mandal, building for girls at Gadhsisa C/o. Karamshi Pancham Village, Taluka-Mandvi-Kutch, Patel Gadhsisa, Mandvi Gujarat; likely to cost Rs. 21.64 Taluk, Kutch-370 445, lakhs. Gujarat.
9. Rotary club of Salem Gugai Development of Burial Ground Rs. 22 lakhs. Public Burial Ground (Gugai) with all facilities at Eruma- Development Trust, 37A, palayam, Gugai/Salem, Tamil East Street No. 1, Karungal- Nadu; likely to cost Rs. 31.60 patti, Salem-636 006, Tamil lakhs. Nadu.
10. Shri Apang Abhyudaya Construction of building for Rs. 32.47 lakhs. Mandal, Sola Gandhinagar school, hsotel and residence Highway, Opp. New High quarters at Village Sola, Daskori Court-Sola, Ahmedabad. Taluk, district Ahmedabad, Gujarat; likely to cost Rs. 32.47 lakhs.
11. Youth for Unity and Volunt- Social Service Centre-cum- Rs. 200.19 lakhs. ary Action (Yuva), 8, Ground training complex at Khar Ghar, Flour, 33L, Mhatre Building, Mumbai; likely to cost Rs. Mugbhat Cross Lane, 200.19 lakhs. Girgaum, Mumbai-4.
12. Sarva Vidyalaya Kelvani Purchase of equipments, fur- Rs. 117 lakhs. Mandal-Kadi, Sarva Vidya- nishing and construction of mini laya Campus, Kadi-382 715, stadium at Kadi, Gujarat; likely Distt. Mehsana, Gujarat. to cost Rs. 117 lakhs.
13. Sankar Foundation, Flat No. Purchase of equipments and Rs. 104.51 lakhs. 38, D. No. 7-8-23/1(13), running of hospital projects at Maharaja Towers, Visakhapatnam, Andhra Pradesh; Viskhapatnam-530 003. likely to cost Rs. 104.51 lakhs.
14. National Association for the (a) Education of blind children Rs. 280.35 lakhs Blind, India, 11, Khan Abdul in ordinary school along with plus a corpus fund Gaffar Khan Road, Worli sighted children; of Rs. 124 lakhs. Seaface, Mumbai-400 025. (b) NAB Sir J. Duggan Braille Press, NAB Jitendra Mafatlal Mehta Computerised Braille Production Centre; (c) Prevention of blindness- Glaucoma; (d) NAB M.P. Shah All India Talking Book Centre; and (e) Services for Multi-Disabled Blind Children; at Mumbai, Maharashtra; likely to cost Rs. 404.35 lakhs including a corpus fund of Rs. 124 lakhs. -------
2. This notification shall remain in force for a period of three years in relation to the assessment years 1999-2000, 2000-2001 and 2001-2002 in respect of projects or schemes mentioned in the said table.
[No. 10632/F. No. NC-50/98]
Notification: S. O. 550(E)
In exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government on the recommendations of the National Committee, hereby amends the notification of the Government of India, Ministry of Finance (Department of Revenue) S.O. No. 863(E), dated 12th December, 1997, namely:---
In the said notification in column 3, against Serial No. 6, for the words "construction, furnishing and equipments of rural community hospital, canteen, dharmshala and staff quarters for hospital staff at Chennai, Tamilnadu", the words "purchase and running of Willingdon Hospital, Chennai, Tamilnadu" shall be substituted.
[No. 10633/F. No. NC-50/98]
Notification: S. O. 551(E)
Whereas by Notification Number S. O. 973(E), dated 14th December, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 3, construction, furnishing and equipments of school building at Govindpuri, Kalkaji Extension, Delhi of Deepalaya, G. No. 12, Shivaji Enclave, New Delhi-110 027, as an eligible project or scheme for a period of three years beginning with the assessment year 1996-97;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of construction, furnishing and equipments of school building at Govindpuri, Kalkaji Extension, Delhi of Deepalaya, G. No. 12, Shivaji Enclave, New Delhi-110 027, at the estimated cost of rupees one hundred eighty-six lakhs only as an eligible project or scheme for a further period of three assessment years commencing from the assessment years 1999-2000.
[No. 10634/F. No. NC-50/98]
Notification: S. O. 552(E)
Whereas by Notification Number S. O. 713(E), dated 8th August, 1995, as amended by S.O. 188(E), dated 12th March, 1997, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 4, (a) Sports Coaching Foundation Capital nature project; (b) Sports Coaching Foundation revenue nature project; at Masab Tank, Hyderabad, Andhra Pradesh of The Sports Coaching Foundation, 203, Cresent Towers, Masab Tank, Hyderabad-500 028, as an eligible project or scheme for a period of three years beginning with the assessment year 1996-97;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of (a) Sports Coaching Foundation Capital nature project; (b) Sports Coaching Foundation revenue nature project; at Masab Tank, Hyderabad, Andhra Pradesh of The Sports Coaching Foundation, 203, Cresent Towers, Masab Tank, Hyderabad-500 028, at the estimated cost of rupees forty-two lakhs eighty-six thousand only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.
[No. 10635/F. No. NC-50/98]
Notification: S. O. 553(E)
Whereas by Notification Number S. O. 711(E), dated 25th September, 1992, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 2, the (i) PYOH II US Aid (ii) Construction of low-cost houses, (iii) Jaipur District Rural Health Project, (iv) Poultry Raising and Garment making for rural women of Jaipur rural Health and Development trust, B-7, Shiv Marg, Bani Park, Jaipur, as an eligible project or scheme for a period of three years beginning with the assessment year 1993-94 which was extended by a period of three more years beginning with the assessment year 1996-97 by Notification Number S. O. 575(E), dated 27th June, 1995;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of the (i) PYOH II US Aid (ii) Construction of low-cost houses, (iii) Jaipur District Rural Health Project, (iv) Poultry Raising and Garment making for rural women of Jaipur rural Health and Development trust, B-7, Shiv Marg, Bani Park, Jaipur, without change in the approved cost as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.
[No. 1063/F. No. NC-50/98]
Notification: 10638
Date of Issue: 7/7/1998
Whereas by Notification number S.O.206(E); dated the 17th March,1997 issued under sub-section(1), read with clause(b) of the Explanation to section 35AC of the Income-tax Act,1961(43 of 1961), the Central Government had specified at serial number 14, (a) Health programme(health awareness, diagnostic camps and distribution of primary treatment kits), (b) Acqua-culture Development Programme(Inland fisheries development and distribution of fish seeds);(c)Environment Awareness Programme(Distribution of plants,awareness programmers,development of nursery and Ayurvedic Garden); at Sabakantha Distt. of Gujarat of Arpan Trust(Adoption of Ryral Perception and Assessment of their needs),C/o Apurva A.Dave,Ashutosh, Gayatri Mandir Road, Himmat Nagar, Gujarat as an eligible project or scheme for a period of one year i.e. assessment year 1998-99.
AND WHEREAS the said project or scheme is likely to extend beyond one years;
AND WHEREAS the National Committee, being satisfied that the said project or scheme is being executed properly, made a furthur recommendation under sub-rule(5) of rule 11M of the Income-tax Rules,1962 for specifying the said project for a furthur period of three years;
NOE, THEREFORE, the Central Government, in exercise of the powers conferred by sub-section(1), read with clause(b) of the Explanation to section 35AC of the Income-tax Act, 1961(43 of 1961), hereby specifies the schme or project of(a)Health programme(health awareness,diagnostic and distribution of primary treatment kits), (b)Acqua-culture Development Programme(Inland fisheries development and distribution of fish seeds);(c) Environment Awareness Programme (Distribution of plants,awareness programmers, development of nursery and Ayurvedic Garden); at Sabarkantha Distt. of Gujarat of Arpan Trust(Adoption of Rural Perception and Assessment of their needs),C/o Apurva A.Dave,Ashutosh, Gayatri Mandir Road, HImmat Nagar, Gujarat, at the estimated cost of rupees eight lakhs only as an eligible project or scheme for a furthur period of three assessment years commencing from assessment year 1999-2000
Notification: 10639
Whereas by Notification number S.O.194(E), dated the 13th March 1995 issued under sub-section(1), read with clause(b) of the Explanation to section 35AC of the Income-tax Act, 1961(43 of 1961), the Central Government had specified at serial number 3,furnishing and equipments of Assam Gujarat Voluntary Blood Bank and Research Centre at Guwahati of which 51 per cent beneficiaries would be patients who are living below poverty line or patients staying in Government hospitals' General ward for providing them tested and screened blood free of cost of Assam Gujarat Charitable Trust, HEm Baruah Road, Fancy Bazar, Guwahati-781001, Assam as an eligible project or scheme for a period of one year i.e. assessment year 1996-1997 which was extended for two more years beginning with assessment year 1997-98 by notification S.O.484(E) dated the 5tth July,1996;
AND WHEREAS the National Committee, being satisfied that the said project or scheme is being executed properly, made a furthur recommendation under sub-rule(5) of rule 11M of the Income-tax Rules,1962 for specifying the said project or scheme for a furthur period of three years;
NOW, THEREFORE, the Central Government, in exercise of the powers conferred by sub-section(1) read with clause(b) of the Explanation to section 35AC of the Income-tax Act,1961(43 of 1961), hereby specifies the scheme or project of furnishing and equipment of Assam Gujarat Voluntary Blood Bank and Research Centre at Guwahati of which 51 per cent beneficiaries would be patients who are living below poverty line or patients staying in Government hospitals' General ward for providing them tested and screened blood free of cost of Assam Gujarat Charitable Trust, Hem Baruah Road, Fancy Bazar, Guwahati-781001,Assam, at the estimated cost of rupees thirty-three lakhs only as an eligible project or scheme for a furthur period of three assessment years commencing from assessment year 1999-200
Notification: 10640
Whereas by Notification Number S.O.878(E),dated the 30th November, 1992 issued under sub-section(1), read with clause(b) of the Explanation to section 35AC of the Incom-tax Act,1961(43 of 1961), the Central Government had specified at serial number 1,the (i) Gopali Project:Construction of a students' hostel at Gopali Ashram and installation of water facilities at Village Gopali near Indian Institute of Technology(Kharagpur);(ii)Jalaberia Project; Construction of a students' hostel building and training and self-employment activity;(iii)Krishnanagar Project; Recurring expenses for running a primary school and two homoeopathic clinics;(iv)Phuleswar Project:Recurring expenses for running a primary school and two homoeopathic clinics;(v)Amta Project:Construction of a building for primary school and medial clinic of Manav Seva Pratisthan, 14,Princep Street, Calcutta-700072 as an eligible project or scheme for a period of three years beginning with assessment year 1993-94 which extended for a furthur period of three years beginning with assessment year 1996-97 by Notification Number S.O.602(E), dated the 30th June,1995;
AND WHEREAS the National Committee, being satisfied that the said project or scheme is being executed properly,made a furthur recommendation under sub-rule(5) of rule 11M of the Income-tax Rules,1962 for specifying the said project or scheme for a furthur period of three years;
NOW,THEREFORE, the Central Government, in exercise of the powers conferred by sub-section(1), read with clause(b) of the Explanation to Section 35AC of the Income-tax Act,1961(43 of 1961), hereby specifies the scheme or project of the(i)Gopali Project: Construction of a students' hostel at Gopali Ashram and Installation of water facilities at Village Gopali near Indian Institute of Technology(Kharagpur);(ii)Jalaberia Project;Construction of a students' hostel building and training and self-employment activity;(iii)Krishnanagar Project: Recurring expenses for running a primary school and two homoeopathic clinics;(iv)Phileswar Project:Recurring expenses for running a primary school and two homoeopathic clinics;(v)Amta Project: Construction of a building for primary school and medical clinic of Manav Seva Pratisthan,14,Princep Streect,Calcutta-700072,without change in the approved cost as an eligible project or scheme for a furthur period of three assessment years commencing from assessment year 1999-2000
Notification: 10641
And WhereAs the National Commitee,being satisfied that the said project or scheme is being executed properly,made a furter recommendation under sub-rule(5) of rule 11M of the income-tax Rules 1962 for specifying the said project or scheme for a further period of three years;
NOW, THEREFORE, the Central Government,in exercise of the powers conferred by sub-section(1), read with clause (b) of the Explanation to section 35AC of the Income-tax Act,1961(43 of 1961),hereby specifies the scheme or project of (a) Construction and running of running of Sri Ramakrishna Vivekananda Higher Secondary School;(b)and Construction and running of Manickavasagam High School Pandipathram Post, Abudayarkoil Taluk, Pudukkotai Dist.,Tamil Nadu;and (c) recurring expenses for running of above two schols of Sri Ramakrishna Tapovanam, Post Box No. 1,P.O.Tirupparithuai,Tiruchirapally,Tamilnadu, without change in the approved cost as an eligible project or scheme for a further period of three assessment years commencing from assessment year 1999- 2000.
Notification: 10642
AND WHEREAS the said project or scheme is likely to extend beyond five years;
AND WHEREAS the National Commitee , being satisfied that the said project or scheme is being executed properly, made a further recommendation under sub-rule(5 of rule11M) of the Income-tax Rules, 1962 for specifying the said project or scheme for a further period of three years;
NOW, THEREFORE, the Central Government, in exercise of the powers conferred by sub-section(1) read with clause(b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of training and rehabilitation of disabled soldiers at Kirkee, Range Hills, Pune of Queens Mary's Technical Institute for Disabled soldiers, Kirkee, Range Hills, Pune-411020, at the estimated cost of rupees twenty-five lakhs only as an eligible project or scheme for a further period of three assessment years commencing from 1999-2000
Notification: 10643
Whereas by Notification NUmber S.O. 116(E), dated the 23rd February, 1995 issued under sub-section (1), read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 6, construction, furnishing and establishment of Women's Degree College and Girl's Hostel at plot area of four acre of land at Village Borli Panchatan, District raigad, Maharashtra of Royal Education Society, Borli Panchatan, shiwardhan, District Raigad-402403, Maharashtra as an eligible project or scheme for a period of three years beginning with assessment year 1995-96;
AND WHEREAS the National Committee, being satisfied that the said project or scheme is being executed properly, made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules, 1961 for specifying the said project or scheme for a further period of three years;
NOW, THEREFORE, the Central Government, in exercise of the powers conferred by sub-section (1), read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of construction, furnishing and establishment of Women's Degree College and Girl's Hostel at plot area of four acre of land at Village Borli Panchatan, District Raigad, Maharashtra of Royal Education Society, Borli Panchatan, Shiwardhan, District Raigad - 402403, Maharashtra, at the estimated cost of rupees six hundred fourteen lakhs fifty one thousand only as an eligible project or scheme for a further period of three assessment years commencing from assessment year 1998-99.
Notification: S. O. 563(E)
Whereas by Notification Number S. O. 206(E), dated 17th March, 1997, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 14, (a) Health Programme (health awareness, diagnostic camps and distribution of primary treatment kits); (b) Acquaculture Development Programme (Inland fisheries development and distribution of fish seeds); (c) Environment Awareness Programme (Distribution of plants, awareness programmes, development of nursery and Ayurvedic Garden); at Sabarkantha Distt. of Gujarat of Arpan Trust (Adoption of Rural preception and assessment of their needs), c/o Apurva A. Dave, Ashutosh, Gayatri Mandir Road, Himmat Nagar, Gujarat, as an eligible project or scheme for a period of one year, i.e., assessment year 1998-99;
And whereas the said project or scheme is likely to extend beyond one year;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of (a) Health Programme (health awareness, diagnostic camps and distribution of primary treatment kits); (b) Acquaculture Development Programme (Inland fisheries development and distribution of fish seeds); (c) Environment Awareness Programme (Distribution of plants, awareness programmes, development of nursery and Ayurvedic Garden); at Sabarkantha Distt. of Gujarat of Arpan Trust (Adoption of Rural preception and assessment of their needs), c/o Apurva A. Dave, Ashutosh, Gayatri Mandir Road, Himmat Nagar, Gujarat, at the estimated cost of rupees eight lakhs only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.
[No. 10638/F. No. NC-50/98]
Notification: S. O. 564(E)
Whereas by Notification Number S. O. 194(E), dated 13th March, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 3, Furnishing and Equipment of Assam Gujarat Voluntary Blood Bank and Research Centre at Guwahati of which 51 per cent. beneficiaries would be patients who are living below poverty line or patients staying in Government hospitals' general ward for providing them tested and screened blood free of cost of the Assam Gujarat Charitable Trust, Hem Baruah Road, Fancy Bazar, Guwahati-781 001, Assam, as an eligible project or scheme for a period of one year, i.e., assessment year 1996-97 which was extended for two more years beginning with the assessment year 1997-98 by notification S. O. 484(E), dated 5th July, 1996;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of Furnishing and Equipment of Assam Gujarat Voluntary Blood Bank and Research Centre at Guwahati of which 51 per cent. beneficiaries would be patients who are living below poverty line or patients staying in Government hospitals' general ward for providing them tested and screened blood free of cost of the Assam Gujarat Charitable Trust, Hem Baruah Road, Fancy Bazar, Guwahati-781 001, Assam, at the estimated cost of rupees thirty three lakhs only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.
[No. 10639/F. No. NC-50/98]
Notification: S. O. 565(E)
Whereas by notification Number S. O. 878(E), dated 30th November, 1992, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 1, the (i) Gopali Project: Construction of a students' hostel at Gopali Ashram and installation of water facilities at Village Gopali near Indian Institute of Technology (Kharagpur); (ii) Jalaberia Project: Construction of a students' hostel building and training and self-employment activity; (iii) Krishnanagar Project: Recurring expenses for running a primary school and two homeopathic clinics; (iv) Phuleswar Project: Recurring expenses for running a primary school and two homeopathic clinics; (v) Amta Project: Construction of a building for primary school and medical clinic of Manav Seva Pratisthan, 14, Princep Street, Calcutta-700 072, as an eligible project or scheme for a period of three years beginning with assessment year 1993-94 which was extended for a further period of three years beginning with assessment year 1996-97 by notification Number S. O. 602(E), dated 30th June, 1995;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of (i) Gopali Project: Construction of a students' hostel at Gopali Ashram and installation of water facilities at Village Gopali near Indian Institute of Technology (Kharagpur); (ii) Jalaberia Project: Construction of a students' hostel building and training and self-employment activity; (iii) Krishnanagar Project: Recurring expenses for running a primary school and two homeopathic clinics; (iv) Phuleswar Project: Recurring expenses for running a primary school and two homeopathic clinics; (v) Amta Project: Construction of a building for primary school and medical clinic of Manav Seva Pratisthan, 14, Princep Street, Calcutta-700 072, without change in the approved cost as an eligible project or scheme for a further period of three assessment years commencing from assessment year 1999-2000.
[No. 10640/F. No. NC-50/98]
Notification: S. O. 566(E)
Whereas by notification Number S. O. 402(E), dated 3rd May, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 7, (a) construction and running of Sri Ramakrishna Vivekananda Higher Secondary School; (b) Construction and running of Manickavasagam High School at Pandipathram Post, Abudayarkoil Taluk, Pudukottai Dist., Tamil Nadu; and (c) Recurring expenses for running of above two schools of Sri Ramakrishna Tapovanam, Post Box No. 1, P. O. Tirupparithurai, Tiruchirapalli, Tamil Nadu, as an eligible project or scheme for a period of three years beginning with assessment year 1996-97;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of (a) construction and running of Sri Ramakrishna Vivekananda Higher Secondary School; (b) Construction and running of Manickavasagam High School at Pandipathram Post, Abudayarkoil Taluk, Pudukottai Dist., Tamil Nadu; and (c) Recurring expenses for running of above two schools of Sri Ramakrishna Tapovanam, Post Box No. 1, P. O. Tirupparithurai, Tiruchirapalli, Tamil Nadu, without change in the approved cost as an eligible project or scheme for a further period of three assessment years commencing from assessment year 1999-2000.
[No. 10641/F. No. NC-50/98]
Notification: S. O. 568(E)
Whereas by notification Number S. O. 116(E), dated 23rd February, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 6, Construction, furnishing and establishment of Women's Degree College and Girl's Hostel at plot area of four acre of land at village Borli Panchatan, District Raigad, Maharashtra of Royal Education Society, Borli Panchatan, Shiwardhan, District Raigad-402 403, Maharashtra, as an eligible project or scheme for a period of three years beginning with assessment year 1995-96;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of Construction, furnishing and establishment of Women's Degree College and Girl's Hostel at plot area of four acre of land at village Borli Panchatan, District Raigad, Maharashtra of Royal Education Society, Borli Panchatan, Shiwardhan, District Raigad-402 403, Maharashtra, at the estimated cost of rupees six hundred fourteen lakhs fifty-one thousand only as an eligible project or scheme for a further period of three assessment years commencing from assessment year 1998-99.
[No. 10643/F. No. NC-50/98]
Notification: S. O. 567(E)
Whereas by notification Number S. O. 729(E), dated 29th September, 1993, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 2, Training and Rehabilitation of disabled soldiers at Kirkee, Range Hills, Pune of Queen Mary's Technical Institute for Disabled Soldiers, Kirkee, Range Hills, Pune-411 020, as an eligible project or scheme for a period of three years beginning with assessment year 1994-95 which was extended by two more years beginning with assessment year 1997-98 by notification Number S.O. 94(E), dated 7th February, 1997;
And whereas the said project or scheme is likely to extend beyond five years;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of Training and Rehabilitation of disabled soldiers at Kirkee, Range Hills, Pune of Queen Mary's Technical Institute for Disabled Soldiers, Kirkee, Range Hills, Pune-411 020, at the estimated cost of rupees twenty-five lakhs only as an eligible project or scheme for a further period of three assessment years commencing from assessment year 1999-2000.
[No. 10642/F. No. NC-50/98]
Notification: 10644
Date of Issue: 13/7/1998
In exercise of the powers conferred by sub-section (1) of section 54EA of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies the following shares as specified securities, fo rthe purpose of said section namely, :-
Shares to be issued by Energy Development Co. Ltd., Bangalore, a public company registered under the Indian Companies Act, 1956 and having its registered office at 21D, Ist Cross, Ist Floor, Jayalakshmi Puram, Mysore, within one year from the date of publication of this notification, of an amount not exceeding rupees eight crores twenty lakhs only which are not transferable before three years after their allotment.
Notification: 10645
In exercise of the powers conferred by sub-section(1) of section 54EB of the income-tax Act,1961(43 of 1961) the Central Board of Direct Taxes hereby specifies the following equity shares as long term specified securities, for the purpose of said section,namely:-
Shares to be issued by Energy Development Co.Ltd.,Bangalore,a public company registered under the Indian Companies Act,1956 and having its registered office at 21D,Ist Cross, Ist Floor,Jayalakshmi Puram,Mysore,within one year from the date of publication of this notification, of an amount not exceeding rupees one crore sixty lakhs only which are not transferable before seven years after their allotment.
Notification: S. O. 584(E)
In exercise of the powers conferred by sub-section (1) of section 54EA of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies the following shares as specified securities, for the purpose of the said section, namely:---
Shares to be issued by Energy Development Company Limited, Bangalore, a public company registered under the Indian Companies Act, 1956, and having its registered office at 21-D, 1st Cross, 1st floor, Jayalakshmi Puram, Mysore, within one year from the date of publication of this notification, of an amount not exceeding rupees eight crores twenty lakhs only which are not transferable before three years after their allotment.
[Notification No. 10644/F. No. 178/125/97-ITA-I]
Notification: S. O. 585(E)
In exercise of the powers conferred by sub-section (1) of section 54EB of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies the following equity shares as long-term specified securities, for the purpose of said section, namely:---
Shares to be issued by Messrs. Energy Development Company Ltd., Bangalore, a public company registered under the Indian Companies Act, 1956, and having its registered office at 21-D, 1st Cross, 1st Floor, Jayalakshmi Puram, Mysore, within one year from the date of publication of this notification, of an amount not exceeding rupees one crore sixty lakhs only which are not transferable before seven years after their allotment.
(Sd.) Samar Bhadra, Under Secretary to the Government of India. [Notification No. 10645/F. No. 178/125/97-ITA-I]
Notification: S. O. 621(E)
Section(s) Referred: s. 10(15)(iv)
Date of Issue: 23/7/1998
In exercise of the powers conferred by item (h) of sub-clause (iv) of clause 15 of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies seven years 9.5 per cent. NHB---Golden Jubilee Rural Housing Finance tax Free Priority Sector bonds (1997-98) of Rs. 100,000 each for an amount of Rs. 200 crores (Rupees two hundred crores only) bearing distinctive numbers from A/00001 to A/20000 issued by the National Housing Bank for the purpose of the said item:
Provided that the benefit under the said item shall be admissible only if the holder of such bonds registers his/her name and the holding with the said bank.
[Notification No. 10648/F. No. 178/70/97-ITA-I]
Notification: 10653
Date of Issue: 30/7/1998
In exercise of the powers conferred by section 295 of the Income-tax Act,1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-Tax rules,1962,namely:-
1.(1) These rules may be called the Income-tax(Ninth Amendment) Rules,1998. (2) They shall come into force from the 1st day of April,1999. 2.In the Income-tax Rules,1962,- (a) In rule 9A,- (i) in sub-rule(2),for words"one hundred and eighty days",the words "ninety days" shall be substituted. (ii) in sub-rule(3),for the words "one hundred and eighty days", the words "ninety days" shall be substituted. (b) In rule 9B,- (i) in sub-rule(2),for the words "one hundred and eighty days", the words "ninety days" shall be substituted. (ii)in sub-rule(3),for the words "one hundred and eighty days", the words "ninety days" shall be substituted.
Notification: 10654
1.(1) These rules may be called the Income-tax(Tenth Amendment) Rules,1998.
(2) They shall come into force on the date of their publication in the Official Gazette.
2.In PartII of the Income-tax Rules,1962,in sub part F,in rule 11K in clause(i),after item(h),the following items shall be inserted,namely:
"(i) establishment and running of educational institutions in rural areas,exclusively for women and children upto 12 years of age;
(j) establishment and running of hospitals and medical facilities in rural areas,exclusively for women and children upto 12 years of age;
(k) establishment and running of creches and schools for childrenof workers employed in factories or at building sites;
(l) encouraging the production of bacteria induced fertilisers;
(m) any programme that promotes road safety,prevention of accidents and traffic awareness".
Notification: S. O. 647(E)
Section(s) Referred: s. 295
In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:---
This notification contains amendment to Income-tax Rules, 1962 carried out on 30th July, 1998 not reproduced here as it is already contained in the body of the rules itself.
(Sd.) A. N. Prasad, Joint Secretary to the Government of India. [No. 10653/F. No. 142/39/98--TPL]
Notification: S. O. 648(E)
(Sd.) A. N. Prasad, Joint Secretary to the Government of India. [No. 10654/F. No. 142/40/98--TPL]
Notification: S. O. 668(E)
Section(s) Referred: s. 139(1)
Date of Issue: 6/8/1998
In exercise of the powers conferred by the proviso to sub-section (1) of section 139 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies in the table below, the following floor areas for the purposes of clause (i) of the said proviso, namely:---
TABLE ------- Sl. Place Property used for Property used for No. residential (other than huts commercial and kutcha dwellings) purposes (sq. ft.) purposes (sq. ft.) ------- Urban agglomeration of---- (i) Surat 1100 125 (ii) Vadodara 1100 175 (iii) Kochi 1100 125 (iv) Kozhikode 1100 175 (v) Trivandrum 1100 175 (vi) Coimbatore 1100 125 (vii) Madurai 1100 175 (viii) Bhopal 1100 175 (ix) Indore 1100 125 (x) Jabalpur 1100 175 (xi) Vijayawada 1100 175 (xii) Visakhapatnam 1100 175 (xiii) Agra 1100 175 (xiv) Meerut 1100 175 (xv) Allahabad 1100 175 (xvi) Lucknow 1100 175 (xvii) Varanasi 1100 175 (xviii) Dhanbad 1100 175 (xix) Patna 1100 175 (xx) Jamshedpur 1100 175 (xxi) Kalyan 1100 175 (xxii) Nagpur 1100 125 (xxiii) Thane 1100 175 ------- [Notification No. 10655/F. No. 142/21/98-TPL]
Notification: S. O. 669(E)
In exercise of the powers conferred by the proviso to sub-section (1) of section 139 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies the following areas for the purposes of the said proviso, namely:---
1. Urban agglomeration of Surat including the areas comprised in the City of Surat constituted under section 3 of the Bombay Provincial Municipal Corporation Act, 1949 (Bombay Act No. LIX of 1949), as applicable to the State of Gujarat and areas declared by the State Government of Gujarat under section 22 of the Gujarat Town Planning and Urban Development Act, 1976 (Gujarat Act No. 27 of 1976), as "Surat Urban Development Area".
2. Urban agglomeration of Vadodara including the areas comprised in the Vadodara Municipal Corporation under the Bombay Provincial Municipal Corporation Act, 1949 (Bombay Act No. LIX of 1949), and areas declared by the State Government of Gujarat under section 22 of the Gujarat Town Planning and Urban Development Act, 1976 (Gujarat Act No. 27 of 1976), as "Baroda Urban Development Area".
3. Urban agglomeration of Kochi including the areas comprised in the "Greater Cochin Development Authority" within the meaning of the Town Planning Act, 1108 (IV of 1108), and the Madras Town Planning Act, 1920 (VII of 1920).
4. Urban agglomeration of Kozhikode including the areas comprised in the Corporation of Kozhikode.
5. Urban agglomeration of Trivandrum including the areas comprised in the "Trivandrum Development Authority" within the meaning of the Town Planning Act, 1108 (Kerala Act No. IV of 1108 Malayalam Era).
6. Urban agglomeration of Coimbatore including the areas comprised in the "City of Coimbatore" within the meaning of the Coimbatore City Municipal Corporation Act, 1981 (Tamil Nadu Act No. XXV of 1981).
7. Urban agglomeration of Madurai including the areas comprised in the "City of Madurai" within the meaning of the Madurai City Municipal Corporation Act, 1971 (Tamil Nadu Act No. XV of 1971).
8. Urban agglomeration of Bhopal including the areas as notified under the Madhya Pradesh Nagar Tatha Gram Nivesh Adhiniyam, 1973 (23 of 1973), vide Notification No. 3773-XXXII-95, dated June 9, 1995, published in the M. P. Gazette (Extraordinary) No. 273, dated June 9, 1995.
9. Urban agglomeration of Indore including the areas comprised in the "Indore Vikas Pradhikaran" within the meaning of the Madhya Pradesh Nagar Tatha Gram Nivesh Adhiniyam, 1973 (No. 23 of 1973).
10. Urban agglomeration of Jabalpur including the areas as notified by the Government of Madhya Pradesh under the Madhya Pradesh Municipal Corporation Act, 1956, as per the M. P. Gazette (Extraordinary), vide notification No. 382, dated August 12, 1994.
11. Urban agglomeration of Vijayawada including the areas as defined by the Vijayawada Municipal Corporation Act, 1981.
12. Urban agglomeration of Visakhapatnam including the areas as defined by the Visakhapatnam Municipal Corporation Act, 1979.
13. Urban agglomeration of Agra including the areas comprising the territorial limits of Agra city as per Notification No. 2666-A/11-S(v)-7-6/K(1)-79, dated July 8, 1982, published in the U.P. Government Gazette, the territorial limit of Cantonment Board, Agra, and the territorial limit of Dayalbagh Town Area Committee, Agra, as per notification No. 3981/9-1-93-IT-101 of 1993, dated August 12, 1993.
14. Urban agglomeration of Meerut including the areas comprising the areas of Municipal Corporation of Meerut including the area of Meerut Cantonment.
15. Urban agglomeration of Allahabad including the areas comprised in the city of Allahabad within the meaning of the U. P. Nagar Nigam Act, 1959.
16. Urban agglomeration of Lucknow including the areas comprised in the city of Lucknow within the meaning of the U.P. Nagar Mahapalika Adhiniyam, 1959 read with section 21 of the Uttar Pradesh General Clauses Act, 1904 (UP Act No. 1 of 1904) and the areas specified in the schedule under Notification No. 4516-A/XI-7-IK(37) of 1983, dated February 3, 1987.
17. Urban agglomeration of Varanasi including the areas defined as development area in the notification issued by the U.P. State Government from time to time in exercise of powers under section 3 of the U.P. Urban Planning and Development Act, 1973 (President's Act No. 11 of 1973)
18. Urban agglomeration of Dhanbad including the areas falling in the municipality of Dhanbad including Jagjivan Nagar and Saraidhella as well as areas comprised in the jurisdiction of the three notified area committees, i.e., Jharia Notified Area Committee, Katra Notified Area Committee, Chirukunda Notified Area Committee.
19. Urban agglomeration of Patna including the areas comprised in "Patna" within the meaning of Patna Municipal Corporation Act, 1951 (No. 23 of 1956).
20. Urban agglomeration of Jamshedpur including areas comprised within the jurisdiction of Jamshedpur Notified Area Committee, Mango Notified Area Committee/Municipality, Adityapur Notified Area Committee/Municipality and Jugsalai Municipality.
21. Urban agglomeration of Kalyan including the areas comprised with the twin cities of Kalyan and Ulhasnagar within the meaning of the Bombay Provincial Municipal Corporation Act, 1949.
22. Urban agglomeration of Nagpur including the areas comprised in the "City of Nagpur" within the meaning of the Nagpur Corporation Act, 1948.
23. Urban agglomeration of Thane including the areas comprised in the City of Thane within the meaning of the Bombay Provincial Municipal Corporation Act, 1949 (Bom LIX of 1949).
(Sd.) S. Mohapatra, Deputy Secretary to the Government of India. [Notification No. 10656/F. No. 142/21-98-TPL]
Notification: S. O. 676(E)
Date of Issue: 11/8/1998
In exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government on the recommendations of the National Committee hereby approves the institutions mentioned in column (2) of the Table below and specifies the eligible projects or schemes and the estimated cost thereof as mentioned in column (3) of the said Table and also specifies in the column (4) of the said Table, the maximum amount of such cost which may be allowed as a deduction under the said section 35AC.
TABLE ------- Sl. Name of the Institutions Project or scheme and Maximum No. estimated cost thereof amount of cost to be allowed as deduction under section 35AC ------- (1) (2) (3) (4) ------- 1. Vikas, 18, Gautam Nagar, Purchase of machinery, con- Rs. 63.52 lakhs. Near Naranpura Railway struction of a building for Crossing, Ahmedabad-380 Virdhashram (Home for the 013, Gujarat. Aged) and Industrial Shed at Village Kolavada, District Gan- dhinagar, Gujarat; likely to cost Rs. 63.52 lakhs.
2. The Society for the Construction of building, fur- Rs. 100.00 lakhs Mentally Retarded, P. D. nishing, equipments and run- plus a corpus fund Malviya College Campus ning of school and training/ of Rs. 50.00 lakhs. Gondal Road, research centres for Medical Rajkot-360 004 (Gujarat). Education and training of mentally retarded persons at Rajkot, Gujarat; likely to cost Rs. 100.00 lakhs plus a corpus fund of Rs. 50.00 lakhs.
3. Manav Sadhna, Near Strengthening selected Rs. 9.56 lakhs plus Toran Restaurant, Ashramshalas, Chhatralayas a corpus fund of Gandhi Ashram, (Hostels), Balwadi-cum-Nutri- Rs. 15.00 lakhs. Ahmedabad-380 027 tion centres of Gujarat Harijan Sevak Sangh at Gujarat State; likely to cost Rs. 9.56 lakhs plus a corpus fund of Rs. 15.00 lakhs.
4. The Woman's Education Construction of workshed- Rs. 1.24 lakhs. Development Association, cum-residential centre for Keishamthong Bazar, carpet weaving training-cum- Imphal-795 001. production centre at Langtha- bal Kunj National Highway No. 39; likely to cost Rs. 12.38 lakhs.
5. Swasthya Sewa Trust, 38, Health and Family Welfare Rs. 18.25 lakhs. Vasu Apartment, Navrang Project at Ahmedabad/Sabar- High School Road, kantha, Gujarat; likely to cost Ahmedabad-380 013 Rs. 18.25 lakhs.
6. Community Development Construction of hostel building Rs. 16.20 lakhs. Society, Jaladi Village, cum-vocational training centre Edlapadu, District-Guntur, at Jaladi Village, Edlapadu Andhra Pradesh Mandal, District Guntur, Andhra Pradesh; likely to cost Rs. 16.20 lakhs.
7. The Blind Relief Associa- Construction of workshop build- Rs. 39.65 lakhs. tion, South Ambazari ing and hostel building at Road, Nagpur-440 022. South Ambazari Road, Nagpur; likely to cost Rs. 39.65 lakhs.
8. SOS Children's Villages of Construction of a school build- Rs. 60.00 lakhs. India-Chatnath Home, 7, building and running of SOS Raja Krishna Rao Road, Children's Village at Tambaram Teynampet, East, Chennai, Tamil Nadu; Chennai-600 018. likely to cost Rs. 60.00 lakhs.
9. Gianta Charitable Trust, Construction of building for Rs. 172.00 lakhs. C/o. Koteecha Electricals, Shree Morarji Kheraj Thakar Sutaarwada, Porbundar- Orthopedic Hospital and Polio 360 575, Gujarat. Welfare Centre near Paradise Cinema, New Fountaon, Por- bundar, Gujarat; likely to cost Rs. 172.00 lakhs.
10. National Society for Equal Enhancing socio-economic sta- Rs. 15.00 lakhs Opportunities for the tus of disabled at Ahmedabad plus a corpus Handicapped India (NASEOH), District, Maharashtra; likely to fund of Rs. 50.00 Postal Colony Road, cost Rs. 15.00 lakhs plus a cor- lakhs. Chembur, Mumbai-400 071. pus fund of Rs. 50.00 lakhs.
11. Smt. Rekhaben Kataria Purchase of equipments and Rs. 21.00 lakhs. Smruti Trust, Morbi, C/o providing facilities for intraoc- Dr. V. C. Katariya, Morbi- cular lens operations at Morbi, 363 641, Rajkot, Gujarat. Rajkot, Gujarat; likely to cost Rs. 21.00 lakhs.
12. Kadi Taluka Public Chari- Purchase of equipments, run- Rs. 75.00 lakhs table Trust, Kadi, Station ning of hospital including plus a corpus fund Road, Kadi (NG), Distt. facilities of free medical treat- of Rs. 150.00 Mehsana, Gujarat. ment to poor patients at Kadi, lakhs. Mehsana District, Gujarat; likely to cost Rs. 75.00 lakhs plus a corpus fund of Rs. 150.00 lakhs.
13. Aswini Kumar Medical Purchase of medical equip- Rs. 30.00 lakhs Relief Society (AMRS), 7, ments, medical vans/ambu- plus a corpus Lalja Complex, New Link lance and expansion of OPD fund of Road, Kandivali (West), building at Mumbai and Thane, Rs.100.00 lakhs. Mumbai-400 067. Maharashtra; likely to cost Rs. 35.00 lakhs plus a corpus fund of Rs. 100.00 lakhs.
14. Shri Akhil Anjana Kelvani Tree plantation, construction Rs. 490.00 lakhs. Mandal, Gandhi nagar, of building and furnishing of Sector-7, Opposite Central Mahila College (Residential) at Bus Station, Gandhinagar--- Sector-7, Gandhinagar, Gujarat; 382 007. likely to cost Rs. 490.00 lakhs.
15. Maharshi Karve Stree (a) Purchase of equipments Rs. 298.63 lakhs. Shikshan Samstha, Karve- and construction of building nagar, Pune-411 052. for vocational training institute; (b) Furnishing and construction of building for hostel for school girls; and (c) Construction of building for hostel for college girls; at Pune, Maharashtra; likely to cost Rs. 298.63 lakhs. -------
2. This notification shall remain in force for a period of three years in relation to the assessment years 1999-2000, 2000-2001 and 2001-2002 in respect of projects or schemes mentioned in the said table. [No. 10657/F. No. NC-80/98]
Notification: S. O. 677(E)
In exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government on the recommendations of the National Committee hereby approves the company mentioned in column (2) of the Table below and specifies the eligible project or scheme and the estimated cost thereof as mentioned in column (3) of the said Table and also specifies in the column (4) of the said Table, the maximum amount of such cost which may be allowed as a deduction under the said section 35AC.
TABLE ------- Sl. Name of the company Project or scheme and Maximum No. estimated cost thereof amount of cost to be allowed as deduction under section 35AC ------- (1) (2) (3) (4) ------- 1. Maruti Udyog Limited, 11th Social Development Work at Rs. 64.20 lakhs. Floor, Jeevan Prakash, 25, village Mulahera, Dundahera Kasturba Gandhi Marg, and Sirhoul, District Gurgaon, New Delhi-110 001. Haryana; likely to cost Rs. 64.20 lakhs. -------
2. This notification shall remain in force for a period of three years in relation to the assessment years 1999-2000, 2000-2001 and 2001-2002.
[No. 10658/F. No. NC-80/98]
Notification: S. O. 678(E)
Whereas by notification Number S. O. 471(E), dated 26th May, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 7, construction and furnishing of sports hostels "Faqir Kutir" for resource persons and "Arohan" for the youth at Van Niwas, Nainital, Uttar Pradesh of Sri Aurobindo Ahsram-Delhi Branch, Sri Aurobindo Marg, New Delhi-110 016 as an eligible project or scheme for a period of three years beginning with assessment year 1996-97;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of construction and furnishing of sports hostels "Faqir Kutir" for resource persons and "Arohan" for the youth at Van Niwas, Nainital, Uttar Pradesh of Sri Aurobindo Ahsram-Delhi Branch, Sri Aurobindo Marg, New Delhi-110 016 at the estimated cost of rupees one hundred lakh fifty-nine thousand only as an eligible project or scheme for a further period of three assessment years commencing from assessment year 1999-2000.
[No. 10659/F. No. NC-80/98]
Notification: S. O. 679(E)
Whereas by Notification Number S. O. 973(E), dated 14th December, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 10, construction, furnishing and equipment of Mangalam Medical Rehabilitation and Research Centre at 7, Institutional Area, Karkardooma, Delhi of Mangalam, Mangalam Sadan, A-445, Indiranagar, Lucknow-226 016 as an eligible project or scheme for a period of three years beginning with assessment year 1996-97;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of construction, furnishing and equipment of Mangalam Medical Rehabilitation and Research Centre at 7, Institutional Area, Karkardooma, Delhi of Mangalam, Mangalam Sadan, A-445, Indiranagar, Lucknow-226 016, at the estimated cost of rupees thirty eight lakhs seven thousand only as an eligible project or scheme for a further period of three assessment years commencing from assessment year 1999-2000.
[No. 10660/F. No. NC-80/98]
Notification: S. O. 680(E)
Whereas by Notification Number S. O. 844(E), dated 17th October, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 10, construction and equipment of indoor stadium, swimming pool, cinder track and play ground; at Amravati, Hatru, Harisal, and Achalpur of Shree Hanuman Vyayam Prasarak Mandal, Hanuman Vyayam Nagar, Amravati-444 605, Maharashtra, as an eligible project or scheme for a period of three years beginning with assessment year 1996-97;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of construction and equipment of indoor stadium, swimming pool, cinder track and play ground; at Amravati, Hatru, Harisal, and Achalpur of Shree Hanuman Vyayam Prasarak Mandal, Hanuman Vyayam Nagar, Amravati-444 605, Maharashtra, at the estimated cost of rupees sixty-seven lakhs forty thousand only as an eligible project or scheme for a further period of three assessment years commencing from assessment year 1999-2000.
[No. 10661/F. No. NC-80/98]
Notification: S. O. 681(E)
Whereas by Notification Number S. O. 521(E), dated 14th July, 1994, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 6, Integrated Rural Development Programme at Kodinar Taluka, Amreli District, Gujarat of Ambuja Cement Foundation, 216, A. J. C. Bose Road, Calcutta-700 017, as an eligible project or scheme for a period of two years beginning with assessment year 1995-96 which was extended by two more years by Notification Number S. O. 96(E), dated 7th February, 1997, ending with the assessment year 1998-99;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of Integrated Rural Development Programme at Kodinar Taluka, Amreli District, Gujarat of Ambuja Cement Foundation, 216, A. J. C. Bose Road, Calcutta-700 017, at the estimated cost of rupees seventy-six lakhs forty-two thousand only as an eligible project or scheme for a further period of two assessment years commencing from assessment year 1999-2000.
[No. 10662/F. No. NC-80/98]
Notification: S. O. 682(E)
Whereas by Notification Number S. O. 471(E), dated 26th May, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 8, Accelerated programme to fight against avoidable diseases creating disability and to rehabilitate polio affected poor patients from rural areas and urban slums of Smt. Parsaben Narandas Ramji Shah (Talajawala) Society for Relief and Rehabilitation of the Disabled, 51, Vidyanagar, Bhavnagar, Gujarat, as an eligible project or scheme for a period of three years beginning with assessment year 1996-97;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of Accelerated programme to fight against avoidable diseases creating disability and to rehabilitate polio affected poor patients from rural areas and urban slums of Smt. Parsaben Narandas Ramji Shah (Talajawala) Society for Relief and Rehabilitation of the Disabled, 51, Vidyanagar, Bhavnagar, Gujarat, at the estimated cost of rupees one hundred seventy-nine lakhs thirty thousand only as an eligible project or scheme for a further period of three assessment years commencing from assessment year 1999-2000.
[No. 10663/F. No. NC-80/98]
Notification: S. O. 683(E)
Whereas by Notification Number S. O. 791(E), dated 18th September, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 9, construction, equipment, furnishing of Navajyoti Centre for mentally handicapped and corpus fund of Rs. 30 lakhs for running the centre at Pocket XI, Sector B, Vasant Kunj, New Delhi of Association for Advancement and Rehabilitation for Handicapped (Aaroh), 224, Vasant Enclave, New Delhi-110 057, as an eligible project or scheme for a period of three years beginning with assessment year 1996-97;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of construction, equipment, furnishing of Navajyoti Centre for Mentally Handicapped and corpus fund of Rs. 30 lakhs for running the centre at Pocket XI, Sector B, Vasant Kunj, New Delhi of Association for Advancement and Rehabilitation for Handicapped (Aaroh), 224, Vasant Enclave, New Delhi-110 057, at the estimated cost of rupees fifty-one lakhs only as an eligible project or scheme for a further period of three assessment years commencing from assessment year 1999-2000.
[No. 10664/F. No. NC-80/98]
Notification: S. O. 684(E)
Whereas by Notification Number S. O. 973(E), dated 14th December, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 12, construction of four hostels and development of ashramsalas at Amravati, Hatru, Harisal and Achalpur of Shree Hanuman Vyayam Prasarak Mandal, Hanuman Vyayamnagar, Amravati-444 605, Maharashtra, as an eligible project or scheme for a period of three years beginning with assessment year 1996-97;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of construction of four hostels and development of ashramsalas at Amravati, Hatru, Harisal and Achalpur of Shree Hanuman Vyayam Prasarak Mandal, Hanuman Vyayamnagar, Amravati-444 605, Maharashtra, at the estimated cost of rupees one hundred ninety-three lakhs fourteen thousand only as an eligible project or scheme for a further period of three assessment years commencing from assessment year 1999-2000.
[No. 10665/F. No. NC-80/98]
Notification: S. O. 685(E)
Whereas by Notification Number S. O. 844(E), dated 17th October, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 9, (a) Running of tribal and backward class welfare projects at Jhargram, Purukura, Dokra, Gangasagar, Ranibandh, Ghaksol, Potaka, Districts Ghatsila and Rameshwaram; (b) Digging of 60 wells in Ghatsila, Dhalbhum and Dumurai of Bharat Sevashram Sangha, 211, Rashbehari Avenue, Calcutta-700 019, as an eligible project or scheme for a period of three years beginning with assessment year 1996-97;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of (a) Running of tribal and backward class welfare projects at Jhargram, Purukura, Dokra, Gangasagar, Ranibandh, Ghaksol, Potaka, Districts Ghatsila and Rameshwaram; (b) Digging of 60 wells in Ghatsila, Dhalbhum and Dumurai of Bharat Sevashram Sangha, 211, Rashbehari Avenue, Calcutta-700 019, at the estimated cost of rupees seventy-nine lakhs, fifty thousand only as an eligible project or scheme for a further period of three assessment years commencing from assessment year 1999-2000.
[No. 10666/F. No. NC-80/98]
Notification: S. O. 687(E)
Whereas by Notification Number S. O. 973(E), dated 14th December, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 7, construction, furnishing and running of Pranavananda Centenary Primary School at Village Kasuria, P. O. Payradanga, Nadia, West Bengal of Bharat Sevashram Sangha, 211, Rash Behari Avenue, Ballygunge, Calcutta-700 019, as an eligible project or scheme for a period of three years beginning with assessment year 1996-97;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of construction, furnishing and running of Pranavananda Centenary Primary School at Village Kasuria, P. O. Payradanga, Nadia, West Bengal of Bharat Sevashram Sangha, 211, Rash Behari Avenue, Ballygunge, Calcutta-700 019, at the estimated cost of rupees twenty-two lakhs only as an eligible project or scheme for a further period of three assessment years commencing from assessment year 1999-2000.
[No. 10668/F. No. NC-80/98]
Notification: S. O. 688(E)
Whereas by Notification Number S. O. 973(E), dated 14th December, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 4, construction, equipment, furnishing and running of Smt. Lakshmi Shah Rural Medical and Research Centre of Smt. Lakshmi and Shri Janki Lal Shah Foundation, 9, Naples, Sobani Road, Cuffe Parade, Mumbai-400 005, as an eligible project or scheme for a period of three years beginning with assessment year 1996-97;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of construction, equipment, furnishing and running of Smt. Lakshmi Shah Rural Medical and Research Centre of Smt. Lakshmi and Shri Janki Lal Shah Foundation, 9, Naples, Sobani Road, Cuffe Parade, Mumbai-400 005, at the estimated cost of rupees two hundred lakhs only as an eligible project or scheme for a further period of three assessment years commencing from assessment year 1999-2000.
[No. 10669/F. No. NC-80/98]
Notification: S. O. 689(E)
Whereas by Notification Number S. O. 791(E), dated 18th September, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 8, construction, equipment, furnishing of polio centre and eye hospital at Shri Atma Vallabh Hospital Compound, Idar, Gujarat of Shri Vishvakalyan Society-Idar, Shri Atma Vallabh Hospital Campus-Samudranagar High Way Road-Idar, Gujarat, as an eligible project or scheme for a period of three years beginning with assessment year 1996-97;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of construction, equipment, furnishing of polio centre and eye hospital at Shri Atma Vallabh Hospital Compound, Idar, Gujarat of Shri Vishvakalyan Society-Idar, Shri Atma Vallabh Hospital Campus-Samudranagar High Way Road-Idar, Gujarat, at the estimated cost of rupees fifty-seven lakhs twenty eight thousand only as an eligible project or scheme for a further period of three assessment years commencing from assessment year 1999-2000.
[No. 10670/F. No. NC-80/98]
Notification: S. O. 686(E)
Whereas by Notification Number S. O. 791(E), dated 18th September, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 1, Free medical aid to poor and destitute patients at Ahmedabad, Gujarat of Gujarat Sarvar Mandal, Room No. 15, 1st Floor, Himavan, Samaj Kalyan Kendra, Shanti Kunj Society, Pritamari Marg, Near Paldi, Ahmedabad-6, as an eligible project or scheme for a period of three years beginning with assessment year 1996-97;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of Free medical aid to poor and destitute patients at Ahmedabad, Gujarat of Gujarat Sarvar Mandal, room No. 15, 1st Floor, Himavan, Samaj Kalyan Kendra, Shanti Kunj Society, Pritamari Marg, Near Paldi, Ahmedabad-6, at the estimated cost of rupees twelve lakhs only as an eligible project or scheme for a further period of three assessment years commencing from assessment year 1999-2000.
[No. 10667/F. No. NC-80/98]
Notification: S. O. 410(E)
Date of Issue: 12/8/1998
Whereas by Notification Number S. O. 602(E), dated 12th August, 1993, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 4, construction of Ujjain Charitable Trust's Hospital and Research Centre at Bhudwaria in Ujjain, Madhya Pradesh of Ujjain Charitable Trust Hospital and Research Centre, Mahadik Niwas, 50, Kshirsagar Colony, Ujjain-456 006 (M. P.) as an eligible project or scheme for a period of one year, i.e., assessment year 1994-95 which was extended for a period of two years, i.e., assessment years 1995-96 and 1996-97 vide S. O. No. 268(E), dated 29th March, 1994 which again was extended for a further period of two years, i.e., assessment years 1997-98 and 1998-99, vide S. O. No. 232(E), dated 21st March, 1996;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of construction of Ujjain Charitable Trust's Hospital and Research Centre at Bhudwaria in Ujjain, Madhya Pradesh of Ujjain Charitable Trust Hospital and Research Centre, Mahadik Niwas, 50, Kshirsagar Colony, Ujjain-456 006 (M. P.), at the estimated cost of rupees one hundred fifty lakhs only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.
[No. 10594/F. No. NC-29/98]
Notification: S. O. 709(E)
Section(s) Referred: s. 48 Expln (v)
Date of Issue: 20/8/1998
In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government having regard to seventy-five per cent. of the average rise in the Consumer Price Index for urban non-manual employees, hereby specifies the Cost Inflation Index as mentioned in column (3) of the Table below for the Financial Year (including the financial year 1998-99) mentioned in the corresponding entry in column (2) of the said Table, namely:---
TABLE ------- Sl. No. Financial year Cost Inflation Index (1) (2) (3) ------- 1 1981-82 100 2 1982-83 109 3 1983-84 116 4 1984-85 125 5 1985-86 133 6 1986-87 140 7 1987-88 150 8 1988-89 161 9 1989-90 172 10 1990-91 182 11 1991-92 199 12 1992-93 223 13 1993-94 244 14 1994-95 259 15 1995-96 281 16 1996-97 305 17 1997-98 331 18 1998-99 351 -------
(Sd.) D. Karunakara Rao, Under Secretary to the Government of India. [No. 10673/F. No. 142/25/98-TPL]
Notification: S. O. 710(E)
In exercise of the powers conferred by the second proviso to sub-section (1) of section 139 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies following classes of persons to whom the provisions of the first proviso shall not apply, namely:---
(a) any person being a non-resident in regard to conditions specified in clause (i) to clause (vi) of the first proviso;
(b) any person being an individual who has attained 65 years of age but is not engaged in any business or profession during the previous year in regard to conditions specified in clause (i) or (iii) of the first proviso.
(Sd.) D. Karunakara Rao, Under Secretary to the Government of India. [Notification No. 10674/F. No. 142/45/98-TPL]
Notification: S. O. 711(E)
Section(s) Referred: s. 139(1) Expln 4
In exercise of the powers conferred under Explanation 4 to sub-section (1) of section 139 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies the following places as the place of pilgrimage for the purposes of the aforesaid sub-section and travel to such places shall not be regarded as travel to any foreign country for the purposes of sub-section (1) of section 139, namely:---
(a) travel to Saudi Arabia on Haj pilgrimage organised by the Central Haj Committee, Mumbai, constituted under the Haj Committee Act, 1959;
(b) travel to China on pilgrimage on Kailash Mansarovar organised by the Ministry of External Affairs, Government of India.
(Sd.) D. Karunakara Rao, Under Secretary to the Government of India. [Notification No. 10675/F. No. 142/45/98-TPL]
Notification: S. O. 712(E)
In exercise of the powers conferred under Explanation 4 to sub-section (1) of section 139 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies that the expression "travel to any foreign country" used in this sub-section shall not include travel to following neighbouring countries, namely:----
(a) Bangladesh; (b) Bhutan; (c) Maldives; (d) Nepal; (e) Pakistan; (f) Sri Lanka.
(Sd.) D. Karunakara Rao, Under Secretary to the Government of India. [Notification No. 10676/F. No. 142/45/98-TPL]
Notification: S. O. 721(E)
Section(s) Referred: s. 295(1)
Date of Issue: 25/8/1998
In exercise of the powers conferred by sub-section (1) section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:---
This notification contains amendment to Income-tax Rules, 1962 carried out on 25th August, 1998 not reproduced here as it is already contained in the body of the rules itself.
(Sd.) (D. Karunakara Rao), Under Secretary to the Government of India. [Notification No. 10679/F. No. 142/42/98-TPL]
Notification: S. O. 2116
Section(s) Referred: s. 120(1) ,s. 120(2) ,s. 246(2)
Date of Issue: 28/8/1998
In exercise of the powers conferred by sub-sections (1) and (2) of section 120 the Income-tax Act, 1961 (43 of 1961), and the powers conferred on me by the Central Board of Direct Taxes, New Delhi, vide Notification No. 9565/F. No. 279/129/93-ITJ (Pt. II), dated July 5, 1994, and S. O. No, 504, dated July 5, 1994, and all other powers enabling me in this behalf and in partial modification of Notification No. 1/97-98, dated May 29, 1997, I, the Chief Commissioner of Income-tax, Calcutta, hereby direct that the Commissioner of Income-tax (Appeals)-VI, Calcutta, shall perform the functions in respect of such persons assessed to income-tax or wealth-tax or gift-tax or surtax or interest-tax or expenditure-tax or estate duty by the income-tax authorities/Assessing Officers specified in column 3 of the Schedule below as are aggrieved by any order mentioned in clauses (a) to (h) of sub-section (2) of section 246 of the Income-tax Act, 1961, clauses (a) to (e) of sub-section (1A) of section 23 of the Wealth-tax Act, 1957 (27 of 1957), clauses (a) to (e) of sub-section (1A) of section 22 of the Gift-tax Act, 1958 (18 of 1958), sub-section (1) of section 11 of the Companies (Profits) Surtax Act, 1964 (7 of 1964), sub-section (1) of section 15 of the Interest-tax Act, 1974 (45 of 1974), sub-section (1) of section 22 of the Expenditure-tax Act, 1987 (35 of 1987), and section 62 of the Estate Duty Act, 1953. This order will take effect from August 28, 1998.
SCHEDULE
Designation of the Commis- Sl. No sioner of Income-tax Jurisdiction (Appeals)
1. Commissioner of Income- (a) All the Assessing Officers functioning tax (Appeals)-VI, Calcutta under the Deputy Commissioner of Income tax, Range-7, Calcutta.
[b) The Deputy Commissioner of Income-tax, Special Range-I, Calcutta, and/or all the Assessing Officers subordinate to the Deputy Commissioner of Income-tax, Special Range-1, Calcutta.
(c) All the Assessing Officers functioning under the Deputy Commissioner of Income-tax Range 22, Calcutta,
[No. AC/HQ/PLANNING/30/98-99]
Notification: S. O. 743(E)
Date of Issue: 1/9/1998
In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies 10.5 per cent. tax-free Konkan Railway Bonds of the sixth series bearing distinctive numbers:---
6A 1 to 3,80,000; 6B 1 to 20,00,000; and 6C 1 to 1,29,178
for an amount of rupees two hundred fifty crores ninety-one lakhs and seventy-eight thousand only issued by the Konkan Railway Corporation Limited for the purpose of the said item:
Provided that the benefit under the said item shall be admissible only if the holder of such bonds registers his/her name and the holding with the said Corporation.
[Notification No. 10681/F. No. 178/76/96-ITA-I]
Notification: S. O. 744(E)
Section(s) Referred: s. 80IA(12)(ca)
In exercise of the powers conferred by clause (ca) of sub-section (12) of section 80-IA of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby notifies Inland Container Depot (ICD) and Central Freight Station (CFS) as infrastructure facility:
Provided that such places are notified as Inland Container Depot and Central Freight Station under section 7(aa) of the Customs Act, 1962.
[Notification No. 10682/F. No. 178/8/97-ITA-I]
Notification: S. O. 745(E)
In exercise of the powers conferred by sub-section (1) of section 54EA of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies preference shares to be issued within a period of one year from the date of publication of this notification in the Official Gazette of an amount not exceeding Rs. 50 lakhs by M/s. Tecil Chemicals and Hydro Power Ltd., a public company registered under the Companies Act, 1956, and having its registered office at P.O. Chingavanam, Dist. Kottayam (Kerala), Pin 686 531:
Provided that the investment in the aforesaid shares is made by an assessee out of this income chargeable under the head "Capital gains" arising out from transfer of long-term capital asset:
Provided further that in case the assessee transfers the aforesaid shares allotted to him in any manner within a period of three years from the date of their allotment the initial investment made by such assessee in the aforesaid shares ahall be chargeable to tax under the head "Capital gains" in accordance with the provisions of sub-section (2) of section 54EA of the Income-tax Act, 1961.
[Notification No. 10683/F. No. 178/100-97-ITA-I]
Notification: S. O. 1785
Section(s) Referred: s. 10 ,s. 11(5)
Date of Issue: 3/9/1998
In exercise of the powers conferred by clause 23 of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Petroleum Sports Control Board, New Delhi, for the purpose of the said clause for the assessment years 1996-97, 1997-98 and 1998-99 subject to the following conditions, namely:---
(ii) the assessee will not invest on deposit its funds other than voluntary contributions received and maintained in the form of jewellery, furniture or any other article as may be notified by the Board under the third proviso to the aforesaid clause (23) for any period during the previous year(s) relevant to the assessment year(s) mentioned above otherwise than in any one or more of the forms or modes specified in sub-section (5) of section 11 ;
(iii) the assessee will not distribute any part of its income in any manner to its members except as grants to any association or institution affiliated to it ; and
[Notification No. 10684/F. No. 196/23/96-ITA-I]
Notification: S. O. 2117
Section(s) Referred: s. 120(1) ,s. 120(2)
Date of Issue: 4/9/1998
In exercise of the powers conferred on him by the Central Board of Direct Taxes under sections (1) and (2) of section 120 of the Income-tax Act, 1961 (43 of 1961), and CBDT's Notification No. 10678, dated 21st August, 1998, and in supersession of all existing orders, the Chief Commissioner of Income-tax, Pune, hereby directs that :
(1) The Commissioners of Income-tax (Appeals) specified in column (2) of the Schedule hereto annexed having their headquarters at the places specified in column 3 of the said Schedule, shall perform functions in respect of such territorial areas or of such incomes or classes of incomes or such classes of cases as assessed with the income-tax authorities specified in column 4 of the said Schedule.
(2) This notification shall come into force on and from September 7, 1998.
(3) The monetary limits specified in column 4 of the Schedule will cease to operate with effect from October 1, 1998.
(Referred to in Notification No. 10678, dated 21st August, 1998.)
Sl. No. Designation Headquarters Jurisdiction (1) (2) (3) (4)
1. CIT(A)-I, Pune Pune All the cases having assessed income/loss above Rs. 1 lakh in all wards/circles/ranges and districts within the jurisdiction of :
(1) Commissioner of Income-tax-I, Pune. (2) All cases pertaining to TDS in respect of territorial area and class of persons within the jurisdiction of Addl. CIT/DCIT (TDS) Range, Pune. (3) All cases specifically assigned.
2. CIT(A)-II, Pune Pune All the cases having assessed income/loss above Rs. 1 lakh in all wards/circles/ranges and districts within the jurisdiction of :
(1) Commissioner of Income-tax-II, Pune. (2) All cases pertaining to TDS in respect of territorial area and class of persons within the jurisdiction of Addl. CIT/DCIT (TDS) Range, Pune. (3) All cases specifically assigned.
3. CIT(A) Thane Thane All the cases having assessed income/loss above Rs. 1 lakh in all wards/circles/ranges and districts within the jurisdiction of :
(1) Commissioner of Income-tax-II, Thane. (2) All cases pertaining to TDS in respect of territorial area and class of persons within the jurisdiction of Addl. CIT/DCIT (TDS) Range, Thane. (3) All cases specifically assigned.
4. CIT(A) Kolhapur All the cases having assessed Kolhapur income/loss above Rs. 1 lakh in all wards/circles/ranges and districts within the jurisdiction of :
(1) Addl. CIT/Dy.CIT. Range-1, Kolhapur (2) Addl. CIT/Dy.CIT. Range-2, Kolhapur (3) Addl. CIT/Dy.CIT. Range-3, Kolhapur (4) Addl. CIT/Dy.CIT. Spl. Range-I, Kolhapur
(5) All cases pertaining to TDS in respect of territorial area and class of persons within the jurisdiction of Addl. CIT/DCIT (TDS) Range, Kolhapur (6) All cases specifically assigned.
5. CIT(A) Naisk Naisk All the cases having assessed income/loss above Rs. 1 lakh in all wards/circles/ranges and districts within the jurisdiction of : Addl. CIT/(CD) IT, Range-2 Jalgaon
(2) All the cases having assessed income/loss above Rs. 1 lakh and assessed by the ACsIT/ ITOs under the Addl. CIT/ DCIT, Range-1, Nasik.
(3) All the cases assessed by the Addl. CIT/DCIT, Special Range-I, Nasik.
(4) All cases specifically assigned.
6. CIT(A) Aurangabad All the cases having assessed Aurangabad income/loss above Rs. 1 lakh in all wards/circles/ranges and districts within the jurisdiction of : Addl. CIT/DCIT, Range-3 Aurangabad
(2) All the cases assessed by the Addl. CIT/DCIT, Special Range-2, Aurangabad
(3) All cases specifically assigned.
7. CIT(A)-I Nagpur All the cases having assessed Nagpur income/loss above Rs. 1 lakh in all wards/circles/ranges and districts within the jurisdiction of : (1) Addl. CIT/DCIT Range-1 Nagpur. (2) Addl. CIT/DCIT. Special Range-1 Nagpur (3) All wards/circles located in the districts of Amravati Wardha and Yeotmal within the jurisdiction of Addl. CIT/DCIT, Akola Range Akola.
8. CIT(A)-II Nagpur All the cases having assessed Nagpur income/loss above Rs. 1 lakh in all wards/circles/ranges and districts within the jurisdiction of : (1) Addl. CIT/DCIT Range-2 Nagpur. (2) Addl. CIT/DCIT. Special Range-2 Nagpur (3) All wards/circles located in the districts of Akola and Buldhana (under the jurisdiction of ITO Khamgaon) within the jurisdiction of Addl. CIT/DCIT, Akola Range, Akola. (4) All cases pertaining to TDS in respect of territorial area and class of persons within the jurisdiction of Addl. CIT/DCIT (TDS) Range, Nagpur. (5) All cases specifically assigned.
Note : The monetary limits specified in column 4 of the Schedule will cease to operate with effect from 1st October, 1998, as specified in para 3 of this office notification dated 4th September, 1998, pursuant to CBDT
Notification No. S.O. 714(E), dated 21st August, 1998 (G.O.I. Press Notifi cation No. 10678, dated 21st August, 1998.)
[CCIT/PN/Tech/CIT(A)/Juris.-I/1998-99/008]
Notification: S. O. 781(E)
This notification contains amendment to Income-tax Rules, 1962 carried out on 4th September, 1998 not reproduced here as it is already contained in the body of the rules itself.
(Sd.) S. Balasubramaniyan Under Secretary to the Government of India. [Notification No. 10685/F. No. 142/49/98-TPL]
Notification: S. O. 782(E)
Section(s) Referred: s. 54EA ,s. 54EA(2)
Date of Issue: 7/9/1998
In exercise of the powers conferred by sub-section (1) of section 54EA of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies equity shares to be issued within a period of one year from the date of publication of this notification in the Official Gazette, of an amount not exceeding three hundred crores only by the Tata Tele Services Limited, a public company registered under the Companies Act, 1956 (1 of 1956), and having its registered office at Jeevan Bharati, Connaught Circus, New Delhi-110 001 :
Provided that the investment in the said shares is made by an assessee out of his income chargeable to tax under the head "Capital gain" arising out of transfer of long-term capital asset :
Provided further that in case the assessee transfers the aforesaid shares allotted to him in any manner within a period of three years from the date of their allotment, the initial investment made by such assessee in the aforesaid shares shall be chargeable to tax under the head "Capital gain" in accordance with the provisions of sub-section (2) of section 54EA of the Income-tax Act, 1961.
[Notification No. 10688/F. No. 178/7/98-ITA-I]
Notification: S. O. 783(E)
Section(s) Referred: s. 54EB(1) ,s. 54EB(2)
In exercise of the powers conferred by sub-section (1) of section 54EB of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies equity shares to be issued within a period of one year from the date of publication of this notification in the Official Gazette, of an amount not exceeding one hundred fifty crores only by the Tata Tele Services Limited, a public company registered under the Companies Act, 1956 (1 of 1956), and having its registered office at Jeevan Bharati, Connaught Circus, New Delhi-110 001 :
Provided further that in case the assessee transfers the aforesaid shares allotted to him in any manner within a period of three years from the date of their allotment, the initial investment made by such assessee in the aforesaid shares shall be chargeable to tax under the head "Capital gain" in accordance with the provisions of sub-section (2) of section 54EB of the Income-tax Act, 1961.
[Notification No. 10689/F. No. 178/7/98-ITA-I]
Notification: S. O. 794(E)
Date of Issue: 9/9/1998
In exercise of the powers conferred by sub-section (1) of section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:----
This notification contains amendment to Income-tax Rules, 1962 carried out on 9th September, 1998 not reproduced here as it is already contained in the body of the rules itself.
(Sd.) D. Karunakara Rao, Under Secretary to the Government of India. [Notification No. 10690/F. No. 142/43/98-TPL]
Notification: S. O. 811(E)
Section(s) Referred: s. 246A
Date of Issue: 14/9/1998
In exercise of the powers conferred by the Explanation to sub-section (2) of section 246A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby appoints the 1st day of October, 1998, as the appointed day for the purpose of the said section.
(Sd.) D. Karunakara Rao, Under Secretary to the Government of India. [Notification No. 10691/F. No. 142/50/98-TPL]
Notification: S. O. 812(E)
In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:----
This notification contains amendment to Income-tax Rules, 1962 carried out on 14th September, 1998 not reproduced here as it is already contained in the body of the rules itself.
(Sd.) B. D. Vishnoi, Deputy Secretary to the Government of India. [Notification No. 10692/F. No. 142/51/98-TPL]
Notification: S. O. 1882
Section(s) Referred: s. 10 ,s. 11(2) ,s. 11(3) ,s. 11(5)
Date of Issue: 15/9/1998
In exercise of the powers conferred by clause (23) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the U. P. Cricket Association, Kanpur, for the purpose of the said clause for the assessment years 1993-94 to 1995-96 subject to the following conditions, namely:---
(i) the assessee will apply its income, or accumulate it for application, in consonance with the provisions of sub-sections (2) and (3) of section 11 as modified by the said clause (23) for such accumulation wholly and exclusively to the objects for which it is established ;
(ii) the assessee will not invest or deposit its funds other than voluntary contributions received and maintained in the form of jewellery, furniture or any other article as may be notified by the Board under the third proviso to the aforesaid clause (23) for any period during the previous year(s) relevant to the assessment year(s) mentioned above otherwise than in any one or more of the forms or modes specified in sub-section (5) of section 11 ;
[Notification No. 10693/F. No. 196/2/98-ITA-I]
Notification: S. O. 824(E)
Date of Issue: 17/9/1998
In exercise of the powers conferred by sub-section (1) of section 54EA of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specified bonds to be issued within a period of one year from the date of publication of this notification in the Official Gazette of an amount not exceeding Rs. 35 crores by M/s. Weizmann Limited, a public company registered under the Companies Act, 1956, and having its registered office at Empire House, 214, Dr. D. N. Road, Ent. A. K. Nayak Marg, Port Mumbai:
Provided that the investment in the aforesaid bonds is made by an assessee out of his income chargeable under the head "Capital gain" arising out of transfer of long-term capital asset:
Provided further that in case the assessee transfers the aforesaid bonds allotted to him in any manner within a period of three years from the date of their allotment, the initial investment made by such assessee in the aforesaid bonds shall be chargeable to tax under the head "Capital gain" in accordance with the provisions of sub-section (2) of section 54EA of the Income-tax Act, 1961.
[Notification No. 10694/F. No. 178/78/97-ITA-I]
Notification: S. O. 830(E)
This notification contains amendment to Income-tax Rules, 1962 carried out on 17th September, 1998 not reproduced here as it is already contained in the body of the rules itself.
(Sd.) B. D. Vishnoi, Deputy Secretary to the Government of India. [Notification No. 10695/F. No. 149/46/98-TPL]
Notification: S. O. 2118
Date of Issue: 18/9/1998
Consequent to the transfer of the charge of Commissioner of Income-tax (Appeals)-XIII, Calcutta, from the region of the Chief Commissioner of Income-tax, Calcutta to Mumbai, vide Board's letter, vide F. No. A-11018/11/98-Ad. VII, dated 31st August, 1998, the said charge stands abolished with immediate effect.
In exercise of the powers conferred by sub-sections (1) and (2) of section 120 of the Income-tax Act, 1961 (43 of 1961), and the powers conferred on me by the Central Board of Direct Taxes, New Delhi, vide Notification No. 9565/F. No. 279/129/93-ITJ (Pt. II), dated July 5, 1994, and S. O. No. 504, dated July 5, 1994, and all other powers enabling me in this behalf and in partial modification and in supersession of all earlier notifications made in this behalf, except in respect of things done or omitted to be done before such supersession, I, the Chief Commissioner of Income-tax, Calcutta, hereby direct that the Commissioners of Income-tax (Appeals) of this region specified in column 2 of the Schedule attached hereto, shall perform their functions in respect of such persons assessed to income-tax or wealth-tax or gift-tax or surtax or interest-tax or expenditure-tax or estate duty by the income-tax authorities/assessing officers specified in column 3 thereof as are aggrieved by any orders mentioned in clauses (a) to (h) of sub-section (2) of section 246 of the Income-tax Act, 1961, clauses (a) to (e) of sub-section (1A) of section 23 of the Wealth-tax Act, 1957 (27 of 1957), clauses (a) to (e) of sub-section (1A) of section 22 of the Gift-tax Act, 1958 (18 of 1958), sub-section (1) of section 11 of the Companies (Profits) Surtax Act, 1964 (7 of 1964), sub-section (1) of section 15 of the Interest-tax Act, 1974 (45 of 1974), sub-section (1) of section 22 of the Expenditure-tax Act, 1987 (35 of 1987), and section 62 of the Estate Duty Act, 1953.
Where an Income-tax Circle, Ward of D.C. Range or Special Range or part thereof stands transferred by this notification from one charge to another, appeals arising out of the assessments made in that Income-tax Ward/Circle/Special Range or part thereof and pending, immediately before the date from which this notification takes effect, therefore, the Commissioner of Income-tax (Appeals) from whose charge that particular Income-tax Ward/Circle/Special Range or part thereof is transferred, shall, from the date from which this notification takes effect, be transferred to and dealt with by the Commissioner of Income-tax (Appeals) to whom the said Ward/Circle/Special Range or part thereof is transferred.
This order will take effect from the date of the notification.
SCHEDULE Jurisdiction of the Commissioner of Income-tax (Appeals). ------- Sl. No. Designation of the Commis- Jurisdiction sioner of Income-tax (Appeals) ------- (1) (2) (3) ------- 1. Commissioner of Income-tax (a) All the Assessing Officers function- (Appeals)-I, Calcutta. ing under the Deputy Commissioner of Income-tax, Range-1, Calcutta. (b) The Deputy Commissioner of Income-tax, Special Range-11, Calcutta, and/or all the Assessing Officers subordinate to the Deputy Commissioner of Income-tax, Special Range-II, Calcutta. (c) The Deputy Commissioner of Income-tax, Special Range-22, Calcutta, and/or all the Assessing Officers subordinate to the Deputy Commissioner of Income-tax, Special Range-22, Calcutta. 2. Commissioner of Income-tax (a) All the Assessing Officers function- (Appeals)-VI, Calcutta. ing under the Deputy Commissioner of Income-tax, Range-7, Calcutta. (b) The Deputy Commissioner of Income-tax, Special Range-1, Calcutta, and/or all the Assessing Officers subordinate to the Deputy Commissioner of Income-tax, Special Range-1, Calcutta. (c) All the Assessing Officers function- ing under the Deputy Commissioner of Income-tax, Range-22, Calcutta. (d) The Deputy Commissioner of Income-tax, Special Range-2, Calcutta, and/or all the Assessing Officers subordinate to the Deputy Commissioner of Income-tax, Special Range-2, Calcutta. 3. Commissioner of Income-tax (a) All the Assessing Officers function- (Appeals)-VII, Calcutta. ing under the Deputy Commissioner of Income-tax, Range-13, Calcutta. (b) All the Assessing Officers function- ing under the Deputy Commissioner of Income-tax, Range-15, Calcutta. (c) All the Assessing Officers function- ing under the Deputy Commissioner of Income-tax, Range-21, Calcutta. (d) The Deputy Commissioner of Income-tax, Special Range-7, Calcutta, and/or all the Assessing Officers subordinate to the Deputy Commissioner of Income-tax, Special Range-7, Calcutta. (e) The Deputy Commissioner of Income-tax, Special Range-8, Calcutta, and/or all the Assessing Officers subordinate to the Deputy Commissioner of Income-tax, Special Range-8, Calcutta. 4. Commissioner of Income-tax (a) All the Assessing Officers function- (Appeals)-X, Calcutta. ing under: (i) Deputy Commissioner of Income-tax, Jalpaiguri Range, Jalpaiguri. (ii) Deputy Commissioner of Income-tax, Siliguri Range, Siliguri. (b) The Deputy Commissioner of Income-tax, Special Range-Jalpaiguri and/or all the Assessing Officers subordinate to the Deputy Commissioner of Income-tax, Special Range-Jalpaiguri. (c) The Deputy Commissioner of Income-tax, Special Range-10, Calcutta, and/or all the Assessing Officers subordinate to the Deputy Commissioner of Income-tax, Special Range-10, Calcutta. (d) The Deputy Commissioner of Income-tax, Special Range-21, Calcutta, and/or all the Assessing Officers subordinate to the Deputy Commissioner of Income-tax, Special Range-21, Calcutta. (e) All the Assessing Officers function- ing under the Deputy Commissioner of Income-tax, Range-6, Calcutta. 5. Commissioner of Income-tax (a) All the Assessing Officers function- (Appeals)-XII, Calcutta. ing under the Deputy Commissioner of Income-tax, Range-10, Calcutta. (b) All the Assessing Officers function- ing under the Deputy Commissioner of Income-tax, Range-11, Calcutta. (c) All the Assessing Officers function- ing under the Deputy Commissioner of Income-tax, Range-20, Calcutta. (d) The Deputy Commissioner of Income-tax, Special Range-12, Calcutta, and/or all the Assessing Officers subordinate to the Deputy Commissioner of Income-tax, Special Range-12, Calcutta. (e) The Assistant Commissioner of Income-tax (Investigation) Circle-II(1), Guwahati in respect of the specific case transferred by the Central Board of Direct Taxes to Calcutta. (f) All the Assessing Officers function- ing under the Deputy Director of Income- tax (Exemption), Calcutta. -------
[No. AC/HQ/Planning/30/98-99]
Notification: S. O. 832(E)
In exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government on the recommendations of the National Committee, hereby approves the institutions mentioned in column (2) of the Table below and specifies the eligible projects or schemes and the estimated cost thereof as mentioned in column (3) of the said Table and also specifies in the column (4) of the Table, the maximum amount of such cost which may be allowed as a deduction under section 35AC.
TABLE ------- Sl. Name of the institution Project or scheme and Maximum No. estimated cost thereof amount of cost to be allowed as deduction under section 35AC ------- (1) (2) (3) (4) ------- 1. Bhartiya Jan Seva Purchase of equipment/ Rs. 35.12 lakhs. Sansthan, vehicles and running of Ekal 11, Mahalakshmi Society, Vidyalaya Project in backward Ahmedabad-380 007. and vanwasi areas of Bharuch and Surat Districts of South Gujarat ; likely to cost Rs. 35.12 lakhs.
2. ENT Charitable Trust, Purchase of equipment, con- Rs. 375.00 lakhs. 4, Filka, Daftary Road, struction of building for school Mumbai-400 097 and centre for the care of ear at Bandangari, Malad East, Mumbai ; likely to cost Rs. 375.00 lakhs. 3. Jivan Jyot Charitable Help/assistance to patients for Rs. 100.00 lakhs Trust, Thakkar House, medical aid, education, food- 19-D, Pushtikar Society, grains at Mumbai ; likely to Road No. 4, Jogeshwari cost Rs. 100.00 lakhs (West), Mumbai-400 102.
4. Dr. Shroffs Charity Eye Construction of building and Rs. 612.54 lakhs. Hospital, Darya Ganj, purchase of equipment for New Delhi-110 002 expansion and modernisation of Dr. Shroffs Charity Eye Hospital at Darya Ganj, New Delhi ; likely to cost Rs.1094.32 lakhs. 5. Susrut Eye Foundation Mobile unit (Medical Camps- Rs. 83.25 lakhs. and Research Centre, Eye Care) in rural areas in all 56, Lenin Sarani, districts of West Bengal begin- Calcutta-700 013. ning with South, 24-Parganas likely to cost Rs. 83.25 lakhs. 6. Sarva Vidyalaya Kelvani Construction of building, Rs. 153.35 lakhs. Mandal, Kadi, Sector-23, purchase of equipment and GH-6 Road, furnishing of girls hostel and Gandhinagar-382 023, auditorium at Gandhinagar, Gujarat. Gujarat ; likely to cost Rs.153.35 lakhs. 7. Karna Prayag Trust, Running of Fondling-cum- Rs. 60.00 lakhs as 7, Raja Krishna Rao Road, adoption centre for orphaned corpus fund. Teynampet, and destitute children and Chennai-600 018, abandoned babies at Raja Tamil Nadu. Krishna Rao Road, Teynampet, Chennai ; likely to cost Rs.60.00 lakhs is corpus fund. 8. Mehsana Jaycees Charita- Purchase of equipment/instru- Rs. 20.94 lakhs ble Trust, Jail Road, ments/vehicle and running of plus a corpus fund Mehsana, North blood bank and eye bank at of Rs. 10.00 lakhs. Gujarat-384 002. Mehsana, North Gujarat; likely to cost Rs. 30.94 lakhs. 9. Gujarat Cancer Dardi Seva Purchase of vehicles and run- Rs. 21.50 lakhs Trust, Golden Triangle, ning of medical services for plus a corpus fund 501, 5th Floor, cancer patients at Ahmeda- of Rs. 25.00 lakhs. Navrangpura, bad, Gujarat ; likely to cost Ahmedabad-380 014, Rs.21.50 lakhs plus a corpus Gujarat. fund of Rs. 25.00 lakhs. 10. Mahatma Prakriti Chikitsa Purchase of equipment, fur- Rs. 155.45 lakhs. Kendram, Court Road, nishing and construction of Taliparamba-670 141, building and development of a Kerala. 80 bedded nature cure hospital at Taliparamba, Kannur District, Kerala likely to cost Rs.155.45 lakhs 11. Badminton Association of Development of the game of Rs. 156.00 lakhs. India, Bai Development badminton in all States/Union Fund, No. 4, Jasma Territories in the country; Bhavan Road, likely to cost Rs. 156.00 lakhs. Bangalore-560 052. 12. Veera Soudha Trust, Construction of building, pur- Rs. 1156.00 lakhs No. 406A, II Cross, chase of equipment furnishing III-Block, and running of freedom fight- Koramangala-560 034, ers Memorial Hospital at Aga- Bangalore. ram Village, Hosur, Surajpur Layout, Bangalore, Karnataka likely to cost Rs. 2,166.00 lakhs. 13. Krishnajee Heart Purchase of equipment and Rs. 89.50 lakhs. Foundation, running of community based Hrishikesh Dham, rehabilitation programme for Opp. ITI, Aundh, prevention of heart diseases Pune-411 007, and promotion of socio-eco- nomic status and quality of life of heart patients at Pune Dis- trict, Maharashtra, likely to cost Rs. 173.02 lakhs. 14. Shri Siddhakshetra Construction of building, pur- Rs. 102.00 lakhs Shravikashram, chase of equipment, furnishing plus a corpus fund C/o Gautam C. Dalai, and running of multi-purpose of Rs. 376.00 Sekersia Chambers, vocational training centre, resi- lakhs. 1st Floor, 139, dential quarters, conducting Nagindas Master Road, business management courses, Mumbai-1. setting up of library and dis- pensary at Palitana, Bhavnagar, District Gujarat ; likely to cost Rs. 478 lakhs. 15. Indian Medical Co-op. Renovation and repair of hos- Rs. 220.00 lakhs Hospital & Research pital building, purchase of plus a corpus fund Centre Ltd., I.M.A., A.M.A. equipment/instruments, fur- of Rs. 200.00 House, Opp. Natraj nishing of hospitals at Dariya- lakhs. Theatre, Ashram Road, pur, Ahmedabad, Gujarat; Ahmedabad-9. likely to cost Rs. 220.00 lakhs plus a corpus fund of Rs. 200.00 lakhs. 16. V. Rishi Prayavaran and Bal Swasthya Yojana-2000 at Rs. 9.00 lakhs. Jankalyan Trust, Delhi ; likely to cost Rs. 10.00 A-14, First Floor, lakhs. Wazipur Industrial Area, Delhi-110 052. 17. Savitaben Govindbhai Purchase of land, equipment, Rs. 756.50 lakhs Charitable Trust, construction of building for plus a corpus fund 501, Golden Triangle, hospital at Bhadej, Daskaroi of Rs. 200.00 Opp. Sardar Patel Taluk, District Ahmedabad ; lakhs. Stadium, likely to cost Rs. 756.50 lakhs Navrangpura, plus a corpus fund of Rs. Ahmedabad-14. 200.00 lakhs. 18. Nandlal Mulji Bhuta Construction of extension for Rs. 264.00 lakhs Medical Foundantion, hospital building, purchase of plus a corpus fund Station Road, Sihor, equipment/ambulance for of Rs. 300.00 Gujarat State-364 240. Shri Nandlal Mulji Bhuta lakhs. Medical Foundation at Sihor, District Bhavnagar, Gujarat ; likely to cost Rs. 264.00 lakhs plus a corpus fund of Rs.300.00 lakhs. 19. Jnana Prabodhini Cultivation and processing, Rs. 22.35 lakhs Shivapradesh, training of medical plants, 510, Sadashiv Peth, training in computerised and Pune-411 030, numerically controlled (CNC) Maharashtra. technology and construction of building for training centre for rural women at Village Shivapur, District Pune, Maharashtra ; likely to cost of Rs. 22.50 lakhs. -------
2. This notification shall remain in force for a period of three years in relation to the assessment years 1999-2000, 2000-2001 and 2001-2002 in respect of projects mentioned in the said table.
[No. 10698/F. No. NC-92/98]
Notification: S. O. 833(E)
Section(s) Referred: s. 35AC(1)(b)
Whereas by Notification Number S. O. 471(E), dated the 26th May, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 15, recurring expenses for running of Saraswati Vidya Mandir Residential High School for tribals with vocational training centre at village Ratnapur, P. O. and Police Station Tundi, District Dhanbad, Bihar of Bharatiya Shikshan Avam Shodh Parishad, Jyoti Bhavan, Kasturba Gandhi Ashram, Govindpur, District Dhanbad, Bihar, as an eligible project or scheme for a period of three years beginning with the assessment year 1996-97;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies scheme or project of recurring expenses for running of Saraswati Vidya Mandir Residential High School for tribals with vocational training centre at Village Ratnapur, P. O. and Police Station Tundi, District Dhanbad, Bihar of Bharatiya Shikshan Avam Shodh Parishad, Jyoti Bhavan, Kusturba Gandhi Ashram, Govindpur, District Dhanbad, Bihar, at the estimated cost of rupees sixty-six lakhs seventy-five thousand only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.
[No. 10699/F. No. NC-92/98]
Notification: S. O. 834(E)
Whereas by Notification Number S. O. 92(E), dated 7th February, 1997, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 7, land development, construction, furnishing, installation of equipment and running of Palliative Care Centre at Pune, Maharashtra of Cipla Cancer and Aids Foundation C/o Cipla Limited, Mumbai Central, Mumbai-400 001, as an eligible project or scheme for a period of three years beginning with the assessment year 1997-98;
And whereas the National Committee, being satisfied that the said project or scheme is being executed properly, made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules, 1962, for enhancing the approved cost of the scheme to rupees seven hundred fifteen lakhs including a corpus fund of rupees five hundred lakhs;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies scheme or project of land development, construction, furnishing, installation of equipment and running of Palliative Care Centre at Pune, Maharashtra of Cipla Cancer and Aids Foundation C/o Cipla Limited, Mumbai Central, Mumbai-400 001, at the estimated cost of rupees seven hundred fifteen lakhs only as an eligible project or scheme for a period of three assessment years commencing from the assessment year 1997-98.
[No. 10700/F. No. NC-92/98]
Notification: S. O. 835(E)
Whereas by Notification Number S. O. 973(E), dated 14th December, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 14, Preservation of Environment and Ecological Planning Project at GIDC-Ankleshwar Industrial Estate and its surroundings and Bharuch District, Gujarat of Ankleshwar Environmental Preservation Society, K-1/205, GIDC Estate, Ankleshwar-393 002, Gujarat, as an eligible project or scheme for a period of three years beginning with assessment year 1996-97;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies scheme or project of Preservation of Environment and Ecological planning project at GIDC-Ankleshwar Industrial Estate and its surroundings and Bharuch District, Gujarat of Ankleshwar Environmental Preservation Society, K-1/205, GIDC Estate, Ankleshwar-393 002, Gujarat, at the estimated cost of rupees one hundred eighty-six lakhs only as an eligible project or scheme for a period of two assessment years commencing from the assessment year 1999-2000.
[No. 10701/F. No. NC-92/98]
Notification: S. O. 836(E)
Whereas by Notification Number S. O. 713(E), dated 8th August, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 8, The Poona Blind Men's Association 50-bed eye hospital at Mohammedwadi, Off Hadapsar Taluk, Haveli, District Pune, Maharashtra of The Poona Blind Men's Association, 82, Rasta Peth, Pune-411 011, Maharashtra, as an eligible project or scheme for a period of three years beginning with the assessment year 1996-97;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies scheme or project of The Poona Blind Men's Association, 50-bed eye hospital at Mohammedwadi, Off Hadapsar Taluk Haveli, District Pune, Maharashtra of the Poona Blind Men's Association, 82, Rasta Peth, Pune-411 011, Maharashtra, at the estimated cost of rupees six hundred sixty-eight lakhs seventy thousand only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.
[No. 10702/F. No. NC-92/98]
Notification: S. O. 837(E)
Whereas by Notification Number S. O. 471(E), dated 26th May, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 13, Expansion of Outreach programmes for rural areas at neighbouring villages of Uttar Pradesh, Haryana and Rajasthan of Ishwar Eye Institute as amended to Ishwar Charitable Trust (Ishwar Eye Institute)---ICARE vide S. O.No. 216(E), dated 19th March, 1996, N-132, Panchshilla Park, New Delhi-110 017, as an eligible project or scheme for a period of three years beginning with the assessment year 1996-97;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of Expansion of Outreach programmes for rural areas at neighbouring villages of Uttar Pradesh, Haryana and Rajasthan of Ishwar Charitable Trust (Ishwar Eye Institute)---ICARE, N-132, Panchshilla Park, New Delhi-110 017, at the estimated cost of rupees two hundred eight lakhs ninety-seven thousand only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.
[No. 10703/F. No. NC-92/98]
Notification: S. O. 838(E)
Whereas by Notification Number S. O. 92(E), dated 7th February, 1997, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 1, construction of building for Cobalt Therapy Unit at M. B. S. Hospital Campus, Kota, Rajasthan of Kota Cancer Society, 196, Civil Lines, opposite M. B. S. Hospital, Kota-324 001, as an eligible project or scheme for a period of one year, i.e., assessment year 1997-98 which was extended by one year, i.e., assessment year 1998-99 vide S. O. 592(E), dated 20th August, 1997;
And whereas the National Committee, being satisfied that the said project or scheme is being executed properly, made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules, 1962, for specifying the said project or scheme for a further period of one year;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of construction of building for Cobalt Therapy Unit at M. B. S. Hospital Campus, Kota, Rajasthan of Kota Cancer Society, 196, Civil Lines, opposite M. B. S. Hospital, Kota-324 001 at the estimated cost of rupees fifteen lakhs only as an eligible project or scheme for a further period of one assessment year, i.e., assessment year 1999-2000.
[No. 10704/F. No. NC-92/98]
Notification: S. O. 840(E)
Whereas by Notification Number S. O. 844(E), dated 17th October, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 2, land development, construction, furnishing, equipment and running of Shree Nirmal Vivek Institute at Plot No. 4A, Near Vidhya Ashram School, Jaipur, Rajasthan of Society for Welfare of Mentally Handicapped, KE-7, Kabeer Marg, Bain Park, Jaipur-302 016, as an eligible project or scheme for a period of three years beginning with the assessment year 1996-97;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of land development, construction, furnishing, equipment and running of Shree Nirmal Vivek Institute at Plot No. 4A, Near Vidhya Ashram School, Jaipur, Rajasthan of Society for Welfare of Mentally Handicapped, KE-7, Kabeer Marg, Bain Park, Jaipur-302 016, at the estimated cost of rupees fifty-three lakhs only is an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.
[No. 10706/F. No. NC-92/98]
Notification: S. O. 841(E)
Whereas by Notification Number S. O. 402(E), dated 3rd May, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 4, construction of 230 one teacher school at 75 villages of District Dhanbad, 30 villages of District Giridih, 60 villages of District Duma and 65 villages of District Sahabgunj in Bihar of Bhartiya Shikshan Avam Shodh Parishad, Jyoti Bhawan, Govindpur, District Dhanbad, Bihar-862 109, as in eligible project or scheme for a period of three years beginning with the assessment year 1996-97;
Now, therefore, the Central Government, in exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), hereby specifies the scheme or project of construction of 230 one teacher school at 75 villages of District Dhanbad, 30 villages of District Giridih, 60 villages of District Duma and 65 villages of District Sahabgunj in Bihar of Bhartiya Shikshan Avam Shodh Parishad, Jyoti Bhawan, Govindpur, District Dhanbad, Bihar-862 109, at the estimated cost of rupees one hundred three lakhs eighty-four thousand only as an eligible project or scheme for a further period of three assessment years commencing from the assessment year 1999-2000.
[No. 10707/F. No. NC-92/98]
Notification: S. O. 839(E)
In exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government on the recommendations of the National Committee hereby amends the notification of the Government of India, Ministry of Finance (Department of Revenue), S. O. 388(E), dated 19th May, 1997, namely:---
This notification contains amendment to Income-tax Act, 1961 carried out on 18th September, 1998 not reproduced here as it is already contained in the body of the act itself.
[No. 10705/F. No. NC-92/98]
Notification: S. O. 844(E)
Section(s) Referred: s. 10(15)(i)
Date of Issue: 21/9/1998
In exercise of the powers conferred by sub-clause (i) of clause (15) of section10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the Resurgent India Bonds, being bank instruments representing foreign currency denominated deposits in the form of promissory notes, issued by the State Bank of India, a bank constituted under section 3 of the State Bank of India Act, 1955 (23 of 1955), as deposits for the purposes of the said sub-clause.
(Sd.) B. D. Vishnoi, Deputy Secretary to the Government of India. [Notification No. 10708/F. No. 149/84/98-TPL]
Notification: S. O. 2121
Date of Issue: 24/9/1998
In exercise of the powers conferred by clause (23) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the "Archery Association of India", New Delhi, for the purpose of the said clause for the assessment years 1998-99 to 2000-01 subject to the following conditions, namely :---
(ii) the assessee will not invest on deposit its funds (other than voluntary contributions received and maintained in the form of jewellery, furniture or any other article as may be notified by the board under the third provisions to the aforesaid clause (23) or any period during the previous year(s) relevant to the assessment years mentioned above otherwise than in any one or more of the forms or modes specified in sub-section (5) of section 11;
(iii) the assessee will not distribute any part of its income in any manner to its members except as grants to any association or institution affiliated to it;
[Notification No. 10709/F. No. 196/17/98-ITA-I]
Notification: S. O. 2122
Date of Issue: 9/10/1998
In exercise of the powers conferred by clause (23) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the "Bulsar Cricket Association", Gujarat, for the purpose of the said clause for the assessment years 1997-98 to 1999-2000 subject to the following conditions, namely :---
[Notification No. 10719/F. No. 196/26/97-ITA-I]
Notification: S. O. 889(E)
This notification contains amendment to Income-tax Rules, 1962 carried out on 9th October, 1998 not reproduced here as it is already contained in the body of the rules itself.
Notification: S. O. 897(E)
Date of Issue: 12/10/1998
This notification contains amendment to Income-tax Rules, 1962 carried out on 12th October, 1998 not reproduced here as it is already contained in the body of the rules itself.
Notification: S. O. 898(E)
Notification: S. O. 2074
Date of Issue: 13/10/1998
It is notified for general information that Mercantile Housing Finance Limited, South India House, 36-40, Armenian Street, Chennai-600 001 has been approved by the Central Government for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1998-99 and 1999-2000.
[Notification No. 10723/F. No. 204/4/97-ITA-II]
Notification: S. O. 2075
It is notified for general information that Dewan Housing Finance Corporation Limited, Warden House, 2nd Floor, Sir P. M. Road, Fort, Mumbai, has been approved by the Central Government for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1998-99 and 1999-2000.
[Notification No. 10724/F. No. 204/32/96-ITA-II]
Notification: S. O. 2076
It is notified for general information that Maharishi Housing Development Finance Corporation Limited, New Delhi, has been approved by the Central Government for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1998-99 and 1999-2000.
[Notification No. 10725/F. No. 204/16/94-ITA-II]
Notification: S. O. 2077
It is notified for general information that G.L.F.L. Housing Finance Limited, Anar Complex, Near Vijay Char Rasta, Navrangpura, Ahmedabad, has been approved by the Central Government for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1998-99 and 1999-2000.
[Notification No. 10726/F. No. 204/3/97-ITA-II]
Notification: S. O. 902(E)
Section(s) Referred: s. 80GG
In exercise of the powers conferred by section 80GG of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:---
This notification contains amendment to Income-tax Rules, 1962 carried out on 13th October, 1998 not reproduced here as it is already contained in the body of the rules itself.
Notification: S. O. 915(E)
Section(s) Referred: s. 80L(1)(ii)
Date of Issue: 22/10/1998
In exercise of the powers conferred by clause (ii) of sub-section (1) of section 80L of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the 10 years, 13.5% (Taxable) HUDCO Bonds (Series-VII) bearing distinctive numbers from 10000001 to 10620000 for Rs. 1,000 each aggregating to an amount of rupees sixty-two crores only issued by Housing and Urban Development Corporation Limited, New Delhi, for the purpose of the said clause.
[Notification No. 10728/F. No. 178/49/97-ITA-I]
Notification: S. O. 917(E)
In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following rules further to amend the Income-tax Rules, 1962, namely,----
This notification contains amendment to Income-tax (20th Amendment) Rules, 1962 carried out on 22nd October, 1998 not reproduced here as it is already contained in the body of the rules itself. (Sd.) D. Karunakara Rao, Under Secretary to the Government of India. [Notification No. 10730/F. No. 142/53/98--TPL]
Notification: S. O. 924(E)
Section(s) Referred: s. 80HHE(1)
Date of Issue: 23/10/1998
In exercise of the powers conferred by the proviso to sub-section (1) of section 80HHE of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely,----
This notification contains amendment to Income-tax (Twenty-third Amendment) Rules, 1962 carried out on 23rd October, 1998 not reproduced here as it is already contained in the body of the rules itself. [Notification No. 10735/F. No. 142/58/98--TPL]
Notification: S. O. 925(E)
This notification contains amendment to Income-tax (Twenty-fourth Amendment) Rules, 1962 carried out on 23rd October, 1998 not reproduced here as it is already contained in the body of the rules itself. [Notification No. 10736/F. No. 142/58/98--TPL]
Notification: S. O. 923(E)
Section(s) Referred: s. 80JJAA(2)
In exercise of the powers conferred by the proviso to sub-section (2) of section 80JJAA of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely,----
This notification contains amendment to Income-tax (Twenty-second Amendment) Rules, 1962 carried out on 23rd October, 1998 not reproduced here as it is already contained in the body of the rules itself. [F. No. 142/59/98--TPL]
Notification: 2150
Date of Issue: 27/10/1998
It is notified for general information that "GRUH Finance Limited, Ambica House, B/H.C.U. College, Near Income-tax Circle, Asharam Road, Ahmedabad", has been approved by the Central Government for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1998-99 and 1999-2000.
[Notification No. 10737/F. No. 204/49/95-ITA-II]
Notification: 2151
Date of Issue: 29/10/1998
It is notified for general information that "Peerless Abasan Finance Limited, 75-C, Park Street, 7th Floor, Calcutta-700 016", has been approved by the Central Government for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1998-99 and 1999-2000.
[Notification No. 10739/F. No. 204/49/95-ITA-II]
Notification: S. O. 939(E)
In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely,----
This notification contains amendment to Income-tax (Twenty-fifth Amendment) Rules, 1962 carried out on 29th October, 1998 not reproduced here as it is already contained in the body of the rules itself. [Notification No. 10740/F. No. 142/1/98--TPL]
Notification: S. O. 950(E)
Section(s) Referred: s. 80L(1)
Date of Issue: 5/11/1998
In exercise of the powers conferred by clause (ii) of sub-section (1) of section 80L of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies :
(i) the IDBI Super Deposit Bonds bearing distinctive numbers 1 to 7907884 of the face value of rupees five thousand each;
(ii) the IDBI Double Money Bonds bearing distinctive numbers 10000001 to 11676800 of the face value of rupees five thousand each; and
(iii) the IDBI Monthly Income Bonds bearing distinctive numbers 20000001 to 24025939 of the face value of rupees five thousand each;
issued by the Industrial Development Bank of India, Mumbai, in its public issue of bonds in Flexibond-2 Series, for the purpose of the said clause.
[Notification No. 10742/F. No. 178/129/97-ITA-I]
Notification: S. O. 971(E)
Date of Issue: 13/11/1998
In exercise of the powers conferred by sub-section (1) of section 54EA of the Income-tax Act, 1961 (43 of 1961), and in supersession of the Notification S.O. 6(E), dated 5th January, 1998, published in the Gazette of India (Extraordinary) on the 5th January, 1998, the Central Board of Direct Taxes hereby specifies fully convertible debentures and bonds to be issued within a period of one year from the date of publication of the said notification for amount not exceeding rupees one hundred two crores and one hundred twenty crores respectively by Koshika Telecom Ltd., a public company registered under the Companies Act, 1956, and having its registered office at Usha House, B-II/100, Mohan, Co-op. Indl. Estate, Delhi-Mathura Road, Badarpur, New Delhi-110044, for the purposes of the said section :
Provided that the investment in the aforesaid fully convertible debentures or bonds is made by an assessee out of net consideration arising out from transfer of Long-term capital asset, in accordance with the provision of section 54EA of the Income-tax Act, 1961 :
Provided further that in case the assessee converts into money or transfers aforesaid fully convertible debentures or bonds allotted to him or the shares acquired on conversion, in any manner within a period of three years from the date of their allotment, the initial investment made by such assessee in the aforesaid fully convertible debentures or bonds shall be chargeable to tax under the head "Capital gain" in accordance with the provisions of sub-section (2) of section 54EA of the Income-tax Act, 1961.
[Notification No. 10744/F. No. 178/28/97-ITA-I]
Notification: S. O. 972(E)
Section(s) Referred: s. 54EA(1) ,s. 54EA(2)
In exercise of the powers conferred by sub-section (1) of section 54EA of the Income-tax Act, 1961 (43 of 1961), and in supersession of the Notification S.O. 7(E), dated 5th January, 1998, published in the Gazette of India (Extraordinary) on the 5th January, 1998, the Central Board of Direct Taxes hereby specifies fully convertible debentures and bonds to be issued within a period of one year from the date of publication of the said notification for amount not exceeding rupees twenty crores and rupees two hundred fifty crores respectively by Koshika Telecom Ltd., a public company registered under the Companies Act, 1956, and having its registered office at Usha House, B-II/100, Mohan Co-op. Indl. Estate, Delhi-Mathura Road, Badarpur, New Delhi-110044, for the purposes of the said section :
Provided that the investment in the aforesaid fully convertible debentures or bonds is made by an assessee out of his income chargeable under the head "Capital gains" arising out from transfer of long-term capital asset :
Provided further that in case the assessee converts into money or transfers aforesaid fully convertible debentures or bonds allotted to him or the shares acquired on conversion, in any manner within a period of seven years from the date of their allotment, the initial investment made by such assessee in the aforesaid fully convertible debentures or bonds shall be chargeable to tax under the head "Capital gain" in accordance with the provisions of sub-section (2) of section 54EA of the Income-tax Act, 1961.
[Notification No. 10745/F. No. 178/28/97-ITA-I]
Notification: S. O. 2682
Date of Issue: 26/11/1998
Consequent to the transfer of the charge of Commissioner of Income-tax (Appeals)-VII, Calcutta, from the region of the Chief Commissioner of Income-tax, Calcutta to Hazaribagh, vide Board's letter F. No. A-11018/13/98-Ad. VII, dated 1st September, 1998, the said charge stands abolished with immediate effect.
In exercise of the powers conferred by sub-sections (1) and (2) of section 120 of the Income-tax Act, 1961 (43 of 1961), and the powers conferred on me by the Central Board of Direct Taxes, New Delhi, vide Notification No.. 9565/F. No. 279/129/93-ITJ (Pt. II), dated July 5, 1994, and S. O. No. 504, dated July 5, 1994, and all other powers enabling me in this behalf and in partial modification and in supersession of all earlier notifications made in this behalf, except in respect of things done or omitted to be done before such supersession, I, the Chief Commissioner of Income-tax, Calcutta, hereby direct that the Commissioners of Income-tax (Appeals) of this region specified in column 2 of the Schedule attached hereto, shall perform their functions in respect of such persons assessed to income-tax or expenditure-tax or surtax or interest-tax or estate duty by the income-tax authorities/Assessing Officers specified in column 3 thereof as are aggrieved by any orders mentioned in clauses (a) to (h) of sub-section (2) of section 246 of the Income-tax Act, 1961. Clauses (a) to (e) of sub-section (1A) of section 23 of the Wealth-tax Act, 1957 (27 of 1957), clauses (a) to (e) of sub-section (1A) of section 22 of the Gift-tax Act, 1958 (18 of 1958), sub-section (1) of section 11 of the Companies (Profits) Surtax Act, 1964 (7 of 1964), sub-section (1) of section 15 of the Interest-tax Act, 1974 (45 of 1974), sub-section (1) of section 22 of the Expenditure-tax Act, 1987 (35 of 1987) and section 62 of the Estate Duty Act, 1953.
2. Where an Income-tax Circle, Ward of J. C. I. T. Range or Special Range or part thereof stands transferred by this notification from one charge to another, appeals arising out of the assessments made in that Income-tax Ward/Circle/Special Range or part thereof and pending, immediately before the date from which this notification takes effect, therefore, the Commissioner of Income-tax (Appeals) from whose charge that particular Income-tax Ward/Circle/Special Range or part thereof is transferred, shall, from the date from which this notification takes effect, be transferred to and dealt with by the Commissioner of Income-tax (Appeals) to whom the said Ward/Circle/Special Range or part thereof is transferred.
SCHEDULE Jurisdiction of the Commissioner of Income-tax (Appeals). ------- Sl. No. Designation of the Commis- Jurisdiction sioner of Income-tax (Appeals) ------- (1) (2) (3) ------- 1. Commissioner of Income-tax (a) All the Assessing Officers function- (Appeals)-I, Calcutta. ing under the Joint Commissioner of Income-tax, Range-1, Calcutta. (b) The Joint Commissioner of Income- tax, Special Range-11, Calcutta, and/or all the Assessing Officers subordinate to the Joint Commissioner of Income-tax, Special Range-11, Calcutta. (c) The Joint Commissioner of Income-tax, Special Range-22, Calcutta, and/or all the Assessing Officers subordinate to the Joint Commissioner of Income-tax, Special Range-22, Calcutta. (d) The Joint Commissioner of Income- tax, Special Range-7, Calcutta, and/or all the Assessing Officers subordinate to the Joint Commissioner of Income-tax, Special Range-7, Calcutta. (e) All the Assessing Officers functioning under the Joint Commissioner of Income-tax, Special Range-21, Calcutta. 2. Commissioner of Income-tax (a) All the Assessing Officers function (Appeals)-VI, Calcutta. ing under the Joint Commissioner of Income-tax, Range-7, Calcutta. (b) The Joint Commissioner of Income- tax, Special Range-1, Calcutta, and/or all the Assessing Officers subordinate to the Joint Commissioner of Income-tax, Special Range-1, Calcutta. (c) All the Assessing Officers functioning under the Joint Commissioner of Income-tax, Range-22, Calcutta. (d) The Joint Commissioner of Income- tax, Special Range-2, Calcutta, and/or all the Assessing Officers subordinate to the Joint Commissioner of Income-tax, Special Range-2, Calcutta. (e) All the Assessing Officers functioning under the Joint Commissioner of Income-tax, Range-13, Calcutta. 3. Commissioner of Income-tax (a) All the Assessing Officers functioning (Appeals)-X, Calcutta. under: (i) Joint Commissioner of Income-tax, Jalpaiguri Range, Jalpaiguri. (ii) Joint Commissioner of Income-tax, Siliguri Range, Siliguri. (iii) Joint Commissioner of Income-tax, Range 6, Calcutta. (b) The Joint Commissioner of Income- tax, Special Range-Jalpaiguri and/or all the Assessing Officers subordinate to the Joint Commissioner of Income-tax, Special Range-Jalpaiguri. (c) The Joint Commissioner of Income-tax, Special Range-10, Calcutta, and/or all the Assessing Officers subordinate to the Joint Commissioner of Income-tax, Special Range-10, Calcutta. (d) The Joint Commissioner of Income- tax, Special Range-21, Calcutta, and/or all the Assessing Officers subordinate to the Joint Commissioner of Income-tax, Special Range-21, Calcutta. (e) The Joint Commissioner of Income- tax, Special Range-8, Calcutta, and/or all the Assessing Officers subordinate to the Joint Commissioner of Income-tax, Special Range-8, Calcutta. 4. Commissioner of Income-tax (a) All the Assessing Officers function- (Appeals)-XII, Calcutta. ing under:--- (i) The Joint Commissioner of Income-tax, Range-10, Calcutta. (ii) The Joint Commissioner of Income-tax, Range-11, Calcutta. (iii) The Joint Commissioner of Income-tax, Range-20, Calcutta. (iv) The Joint Director of Income-tax (Exemption), Calcutta. (b) The Joint Commissioner of Income- tax, Special Range-12, Calcutta, and/or all the Assessing Officers subordinate to the Joint Commissioner of Income-tax, Special Range-12, Calcutta. (c) The Assistant Commissioner of Income-tax (Investigation) Circle-II(1), Guwahati in respect of the specific case transferred by the Central Board of Direct Taxes to Calcutta. (d) All the Assessing Officers functioning under the Joint Commissioner of Income-tax, Range-15, Calcutta. ------- [No. AC/HQ/Planning/30/98-99]
Notification: S. O. 1014(E)
Section(s) Referred: s. 80L
Date of Issue: 27/11/1998
(i) the 5 years 13.25% ICICI Regular Income Bonds-I bearing distinctive numbers 1 to 74061 of the face value of rupees five thousand each;
(ii) the 5 years 13.50% ICICI Regular Income Bonds-II bearing distinctive numbers 1 to 189900 of the face value of rupees five thousand each; and
(iii) the 5 years 14% ICICI Regular Income Bonds-III bearing distinctive numbers 1 to 276357 of the face value of rupees five thousand each.
issued by the Industrial Credit and Investment Corporation of India Ltd., Mumbai, in its public issue of Safety Bonds for the purpose of the said clause.
[Notification No. 10748/F. No. 178/80/96-ITA-I]
Notification: S. O. 1015(E)
Section(s) Referred: s. 10
In exercise of the powers conferred by sub-clause (ii) of clause (10AA) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government, having regard to the maximum amount receivable by its employees as cash equivalent of leave salary in respect of the period of earned leave at their credit at the time of their retirement, whether on superannuation or otherwise, hereby specifies Rs. 2,40,000 (rupees two lakhs and forty thousands only) as the limit in relation to employees mentioned in that sub-clause who retire, whether on superannuation or otherwise after the 1st day of July, 1997.
[Notification No. 10749/F. No. 200/23/98-ITA-I]
Notification: S. O. 1079(E)
Date of Issue: 16/12/1998
In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962.
This notification contains amendment to Income-tax Rules, 1962 carried out on 16th December, 1998 not reproduced here as it is already contained in the body of the rules itself.
(Sd.) Deepa Krishan, Director to the Government of India. [Notification No. 10750/F. No. 142/80/98-TPL]
Notification: S. O. 1087(E)
Section(s) Referred: s. 10(15)
Date of Issue: 21/12/1998
In exercise of the powers conferred by sub-clause (h) of clause (iv) of sub-section (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies 10.5% tax-free (7A-Series) Konkan Railway Bonds bearing distinctive numbers 1 to 11,40,000 for an amount of rupees one hundred fourteen crores only issued by Konkan Railway Corporation Limited for the purpose of the said sub-clause :
Provided that the benefit under the said sub-clause shall be admissible only if the holder of such bonds registers his/her name and the holding with the said Corporation.
[Notification No. 10751/F. No. 178/93/98-ITA-I]
Notification: S. O. 1113(E)
Date of Issue: 24/12/1998
This notification contains amendment to Income-tax Rules, 1962 carried out on 24th December, 1998 not reproduced here as it is already contained in the body of the rules itself.
[Notification No. 10754/F. No. 142/49/97-TPL]