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of <h1>Central Government Reconstitutes National Committee for Social and Economic Welfare u/s 35AC of Income-tax Act.</h1> The Central Government reconstituted the National Committee for Promotion of Social and Economic Welfare under Section 35AC of the Income-tax Act, 1961. The committee, initially formed in 1992, had its members' term expiring on January 1, 1998. The government appointed new members for a three-year term starting January 2, 1998. The committee includes a chairman and 13 members, comprising former judicial, academic, and professional leaders from various fields such as law, education, social work, and taxation. The notification also notes a substitution in the membership list made in May 1998.
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