Tax deduction under Section 35AC: educational project by Shri Ugam Education Trust extended for three further years. The Central Government has notified the 'Educational Development Project & corpus fund' run by Shri Ugam Education Trust as an eligible project under Section 35AC for a further three-year period commencing with financial year 2015-16, maintaining the previously approved project cost and corpus fund unchanged, following the National Committee's recommendation that the project is being properly executed.