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of <h1>Karuna Setu Trust's Hospital Project in Gujarat Extended as Eligible u/s 35AC for Three More Years.</h1> The Central Government has extended the eligibility of the project 'Running of hospital, purchase of equipment, and welfare activities at Vadnagar, Mehsana District, Gujarat,' managed by Karuna Setu Trust, as an eligible project under Section 35AC of the Income-tax Act, 1961. This extension is for three additional years, covering the financial years 2016-17 to 2018-19, with an approved cost of Rs. 679.20 lakh, including a corpus fund of Rs. 50 lakh. The exemption under Section 35AC 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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