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of <h1>Integrated Rural Development Project's Eligibility Extended u/s 35AC, Cost Increases, Excludes CSR Funds.</h1> The Central Government has amended a notification concerning the 'Integrated Rural Development Project' by an organization in Pune, extending the project's eligibility under Section 35AC of the Income-tax Act for an additional three years, covering 2016-17 to 2018-19. The project's scope has expanded to include all states in India, and its estimated cost increased from Rs. 2,971.80 lakh to Rs. 7,971.80 lakh. However, the exemption under Section 35AC will not apply to funds received under Schedule VII of Section 135 of the Companies Act and Companies (CSR) Rules 2014.
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