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of <h1>Central Government Extends Tax Benefit Eligibility for 'Kala Bhavanam' Project Under Section 35AC Until 2015-16.</h1> The Central Government, under Section 35AC of the Income-tax Act, 1961, has extended the eligibility of the project 'Kala Bhavanam' by Valluvar Gurukulam in Chennai as an eligible project for tax benefits. Initially approved in 2010 for three years with an estimated cost of 2.38 crore, the project is now extended for an additional three years covering the financial years 2013-14 to 2015-16. This extension follows a recommendation from the National Committee for Promotion of Social and Economic Welfare, confirming the project's proper execution.
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