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of <h1>Central Government Extends Mid-day Meal Project Eligibility u/s 35AC for Three More Years, Until 2018-19.</h1> The Central Government has extended the eligibility of the 'Mid-day Meal Project' by a foundation in Mumbai as an eligible project under section 35AC of the Income-tax Act, 1961. Initially notified in 2008, the project has been extended multiple times, with the estimated cost revised to Rs. 2434.12 lakh. The project is now approved for an additional three years, covering the financial years 2016-17 to 2018-19. However, 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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