A notification under section 35AC of the Income-tax Act, 1961
Notification: 262 Date of Issue : 10/9/2002 was published on 10 September 2002. Its subject is A notification under section 35AC of the Income-tax Act, 1961.
| Under the 1961 Act | Now |
|---|---|
| s.35AC | no counterpart recorded |
Notification No : 262
Date of Issue : 10/9/2002
Section(s) Referred : s. 35AC
Notification No. 262 of 2002, dt. 10th Sept., 2002
Whereas by notification of the Government of India in the Ministry of Finance number S.O. 228(E) dated the 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 6, for Integrated Rural Development through health and medical services for rural poor and tribals, vocational training to tribals and rural poor between age of 15 to 35 years for poverty alleviation, income generation activities for development of women, promotion of gramodyog (cottage industries) for poverty alleviation and help to rural poor for constructing low cost houses, by SEWA-Rural (Society for Education, Welfare and Action-Rural), At & Post Office Jhagadia, District Bharuch-393 110 as an eligible project or scheme for a period of three years beginning with assessment year 1994-95 which was extended further vide notification number S.O. 403(E) dated 6th June, 1996 for a period of three years beginning with assessment year 1997-98 and which was extended further vide notification no. S.O. 748(E) dated 10th September, 1999, for a period of three years beginning with assessment year 2000-2001;
And whereas the said project or scheme is likely to extend beyond nine year;
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 amending the project cost from Rs. 418.50 lakhs to Rs. 518.50 lakhs including a corpus fund of Rs. 100.00 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),--
(a) hereby specifies the scheme or project of Integrated Rural Development through health and medical services for rural poor and tribals, vocational training to tribals and rural poor between age of 15 to 35 years for poverty alleviation, income generation activities for development of women, promotion of gramodyog (cottage industries) for poverty alleviation and help to rural poor for constructing low cost houses, which is being carried out by SEWA-Rural (Society for Education, Welfare and Action-Rural), At & Post Office Jhagadia, District Bharuch-393110, as an eligible project or scheme for a further period of three years beginning with assessment year 2003-2004, and
(b) further amends the said notification number S.O. 228(E) dated the 17th March, 1994, to the following effect, namely:
In the said notification, in the Table against Serial number 6, in column (4) relating to maximum cost for which allowed, for the letters, figures and word "Rs. 418.50 lakhs", the letters, figures and word "Rs. 518.50 lakhs including a corpus fund of Rs. 100.00 lakhs" shall be substituted.
[F.No. NC-80/2002]
Rules it names. Rule 11M of the Income-tax Rules, 1962. The 1962 Rules were replaced by the Income-tax Rules, 2026, which renumbered nearly everything: a rule number quoted here almost never means the same rule today.
Source: the Income Tax Department’s own published text — its page for this instrument.