Government Extends Educational Project in Maharashtra for FY 2016-17; Cost Raised to Rs. 35.22 Crore u/s 35AC.
The Central Government has extended the eligibility of the project "Maintenance and expansion of present activities" by an educational institution in Maharashtra for an additional year, covering the financial year 2016-17. Initially notified in 2009 with a project cost of Rs. 17 crore, the project has been extended beyond six years, with the cost now increased to Rs. 35.22 crore. The National Committee for Promotion of Social and Economic Welfare has recommended this extension and cost enhancement, confirming the project's proper execution. The notification amends the previous cost limit under Section 35AC of the Income-tax Act, 1961.