Notification No. 25/2014

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(TO BE PUBLISHED IN GAZETTE OF INDIA) iff
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Government of India
Ministry of Finance !
Department of Revenue }
Central Board of Direct Taxes h a4 +H. i i
New Delhi, the April, 2014 i
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In exercise of the powers conferred by clause (xi) of sub-section (1) of section 36 I
of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause. the National Bank for Agriculture and Rural Development if (PAN: AAACT4020G) established under section 3 of the National Bank for Agriculture ano h
Rural Development Act, 1981 (No.61 of 1981) for providing and regulating credit and other facilities for promotion of agriculture and rural development, subject to the following :
conditions, namely - |
fi) the expenditure. claimed as deductible under the Income-tax Act, 1961, is i incurred for the objects and purposes authorised by the National Bank fo
Agriculture and Rural Development Act, 1987 (No.61 of 1981}, under i section 38 of the said Act i cis} such expenditure is not in the nature of capital expenditure \
(ili) such expenditure is not eligible for deduction under any other provision oF I
the Income-tax Act, 1961, and (vv) a separate account of the expenditure claimed unger the said clause fs |
maintained by the National Bank for Agriculture & Rural Development e This notification shall be applicable with effect from Assessment Year 2013-74 :
onwards, relevant to F.¥ 2012-13 in which the application seeking epee we
36(1)(xii) of the income Tax Act, 1964 was filed. |
h ae i (Richa Rastogi)
Under Secretary to the Government of India i
Notification No. <> | #014 F.No.225/229/2013/ITA.II |
Toa |
The Manager, }
Govt, of India Press |
Mayapun, New Delhi
Copy forwarded to: |
1. The applicant organization National Bank for Agriculture & Rural Development,
BKC Bandra (E). Mumbai-400 057
2, Comptroller & Auditor General of India
3. CCIT, Mumbai
4. Concerned file
5. Ministry of Law & Justice (Correction Section), New Delhi
6. DIT (Systems), New Delhi for placing on the website incometaxindia.gey in
7, Guard file (PAN: AAACT4020G) \|
& ITGC, GBDT (5 copies) Y 1 .
‘Age (Richa Rastogi’
Under Secretary to the Government of Indiz