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of <h1>Government Extends Section 35AC Tax Benefits for Eco-Friendly Plastic Waste Project in Mumbai for Three More Years.</h1> The Central Government has extended the eligibility of the project 'Recycle Recover Reuse of plastic waste in an eco-friendly manner' under Section 35AC of the Income-tax Act, 1961, for an additional three years starting from the financial year 2015-16. The project, executed by an institution in Mumbai, was initially recognized in 2003 and has undergone multiple extensions and cost enhancements. The approved cost remains Rs. 20.00 crore. The National Committee for Promotion of Social and Economic Welfare confirmed the project's proper execution and recommended this extension.
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