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of <h1>Eligibility Extension for Jammu Charitable Trust's Hospital Project u/s 35AC for Tax Benefits Through 2018.</h1> The Central Government has extended the eligibility of a project by a charitable trust in Jammu for constructing an 80-bed general hospital under Section 35AC of the Income-tax Act, 1961. This project, initially approved in 1994 and extended multiple times, is now eligible for tax benefits for an additional three years starting from the financial year 2015-16. The approved cost remains Rs. 238.88 lakh. However, the tax exemption does not apply to funds received under Schedule VII of Section 135 of the Companies Act and Companies (CSR) Rules 2014.
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