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of <h1>Indian Medical Centre's Nursing School Project in Chennai Extended u/s 35AC, Income-tax Act, Until 2018-19.</h1> The Central Government has extended the eligibility of the 'Establishment of school of Nursing for vocational education' project by the Indian Medical Centre in Chennai, Tamil Nadu, under Section 35AC of the Income-tax Act, 1961. Initially approved for three years ending in 2012-13 and extended to 2015-16, the project is now eligible for a further three-year period from 2016-17 to 2018-19, maintaining the approved cost of Rs. 14.17 crore. However, the 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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