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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Government Extends Banyan Project Funding Under Section 35AC for Three More Years; Total Rs. 15.5 Crore Approved</h1> The Central Government has extended the notification for the project 'Corpus and recurring fund for Banyan' conducted by an organization in Chennai. Initially recognized as an eligible project under section 35AC of the Income-tax Act, 1961, for three years starting from the 2009-10 financial year, the project has been extended for an additional three years, covering 2012-13 to 2014-15. The approved funding remains unchanged at Rs. 9.5 crore for the corpus and Rs. 6.00 crore for recurring expenses. This extension follows a recommendation from the National Committee for Promotion of Social and Economic Welfare.
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