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of <h1>Central Government Raises Tax Deduction Limit for Chennai Medical Project to Rs. 108.07 Crore u/s 35AC.</h1> The Central Government has amended the notification regarding the 'Free Eye surgeries and running of hospital' project by the Medical Research Foundation in Chennai. Initially recognized as an eligible project under section 35AC of the Income-tax Act, 1961, the scheme's funding has been periodically extended and increased. The latest amendment raises the maximum allowable deduction from Rs. 68.07 crore, including a corpus fund of Rs. 52 crore, to Rs. 108.07 crore, maintaining the same corpus fund. This decision follows a recommendation by the National Committee for Promotion of Social and Economic Welfare, confirming the project's proper execution.
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