Central Government Updates Project Cost and Area for Integrated Rural Development under Section 35AC of Income-tax Act

The Central Government has amended the notification regarding the 'Integrated Rural Development Project' by an organization in Pune, under Section 35AC of the Income-tax Act, 1961. The project, originally recognized in 1992, has seen multiple extensions and cost revisions. The latest amendment increases the project cost from 2021.80 lakh to 2971.80 lakh and expands the operational area throughout Maharashtra, in addition to Pune, Aurangabad, Wardha districts, and Sikar district of Rajasthan. This amendment is valid until March 31, 2016, following recommendations from the National Committee for the Promotion of Social and Economic Welfare.