Home India Ministry of Finance Whereas in exercise of the powers conferred by section 35AC ...
Date: 2018-10-05 Category: Extra Ordinary State: Union Government Country: India

Whereas in exercise of the powers conferred by section 35AC of the Income tax Act, 1961

Issued by Ministry of Finance · Department of Revenue

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Executive Summary & Key Takeaways

Executive Summary: This notification from the Ministry of Finance, Department of Revenue, extends the tenure of the Chairman and members of the National Committee for Promotion of Social and Economic Welfare for a further period of six months, effective from October 1, 2018. This extension is made in exercise of powers conferred by the Income Tax Act of 1961, read with the Income Tax Rules of 1962. The original committee was constituted in 1992, and its term was previously extended until September 30, 2018. Key Points / Main Content: Extension of National Committee Tenure: The tenure of the Chairman and members is extended by six months, effective October 1, 2018. Legal Basis: The extension is based on Section 35AC of the Income-tax Act, 1961, read with Rule 11G of the Income-tax Rules, 1962. Committee Composition: The notification lists the names and roles of the Chairman and members whose tenure is extended. Impact Analysis: National Committee for Promotion of Social and Economic Welfare (Chairman and Members): Impact: Continued service in their respective roles on the Committee for an additional six months. Action Required: Continue performing duties and responsibilities as Chairman and members of the Committee. Central Government (Ministry of Finance, Department of Revenue): Impact: Responsible for the continued oversight and administration of the National Committee. Action Required: Monitor the Committee's activities during the extended tenure and ensure compliance with relevant regulations.

Key Entities Referenced

Income-tax Act, 1961: An Indian legislation regarding income tax, cited as the legal basis for the notification. Income Tax Rules, 1962: Rules pertaining to the Income-tax Act, 1961, specifically Rule 11G, which is relevant to the notification. National Committee for Promotion of Social and Economic Welfare: A committee constituted by the Central Government of India to promote social and economic welfare, and whose tenure is being extended by this notification. Ministry of Finance, Department of Revenue: The department under which the notification regarding the extension of tenure of the National Committee is issued. Justice R.C. Lahoti: Former Chief Justice of India and Chairman of the National Committee for Promotion of Social and Economic Welfare. Nehru Yuva Kendra Sangathan: Organisation with which Shri Amardeep Singh, Vice Chairman of the committee, is associated. Guwahati, Assam: City in Assam where Dr. Amiya Kumar Sharma, Executive Director, Rahstriya Gramin Vikas Nidhi is located Bhagwan Mahaveer Viklang Sahayta Samiti BMVSS, Jaipur, Rajasthan: Organisation founded by Shri D.R. Mehta, member of the committee.
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And whereas, in terms of sub-rule (1) of Rule 11G of the Income Tax Rules, 1962, by the aforesaid notification, fourteen persons were appointed by the Central Government as Chairman and members of the said Committee; And whereas, the term of the Chairman and members of the aforesaid Committee ended on 30th March, 2018. And whereas, the term of the Chairman and members of the aforesaid Committee was extended for a further period of six months i.e. upto 30th September, 2018 vide notification number S.O. 1658(E) dated the 17th April, 2018. Now, therefore, in exercise of the powers conferred by section 35AC of the Income Tax Act, 1961 (43 of 1961) read with sub-rule (1) and (3) of rule 11G of the Income Tax Rules, 1962, the Central Government hereby extend the tenure of following persons as Chairman and members of the National Committee for Promotion of Social and Economic Welfare for a further period of six months w.e.f. 1st October, 2018. 1 Justice R.C. Lahoti Former Chief Justice of India Chairman 2 Shri Amardeep Singh Vice Chairman, Nehru Yuva Kendra Sangathan Member Cheema and Social activist 3 Dr. Amiya Kumar Sharma Executive Director, Rahstriya Gramin Vikas Member Nidhi, Guwahati 4 Shri Baldev Chowdhary Ex-Chairman, UP Congress Committee SC/ST Member Cell 5 Smt. Chetna Sinha Micro Finance and Women Entrepreneurship, Member Founder & Chairperson, Mann Deshi Bank 6 Shri D.R. Mehta Padam Bhushan and Retired Civil Servant, Member Founder & Chief Patron, Bhagwan Mahaveer Viklang Sahayta Samiti (BMVSS), Jaipur. 7 Shri Enrico Piperno Former Tennis Player and coach Member 8 Shri Habib A. Fakih Specialist in local self government and Public Member Administration, Vice President, The Federation of Linguistic & Religious Minorities Education Institution, Maharashtra 9 Prof. Naladi Samuyelu Emeritus Professor, Deptt. Of Sociology & Social Member Work, Acharya Nagarjuna University, Guntur 10 Dr. Naresh Gupta Director, Professor, Maulana Azad Medical Member College and Associated hospitals, New Delhi 11 Shri Sanjiv Kumar Arora Chartered Accountant Member 12 Smt. Shameema Raina Social worker Member 13 Smt. Shashikala Vamanan Educationist Member 14 Shri Vinayak Lohani Social Entrepreneur and founder of Parivar Member [No. 2/2018/F.No.V.27013/3/2018-SO(NAT.COM)] MAKKHAN LAL MEENA, Dy. Secy. (National Committee) Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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