Tax Benefits Extended for Sikar Medical Project u/s 35AC; Eligible for Three More Years.

The Central Government has extended the eligibility of the project run by a medical research center in Sikar, Rajasthan, for tax benefits under Section 35AC of the Income-tax Act, 1961. This project involves the expansion and operation of a Tuberculosis Hospital and a Public Health Program through a mobile clinic. Initially approved for two years starting in the 1995-96 assessment year, the project received extensions in 1996 and 1999. The National Committee has recommended further extension, and the project is now specified as eligible for an additional three years, starting from the 2001-2002 assessment year, with an estimated cost of INR 2,82,09,000.

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