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of <h1>Central Government Extends Tax Exemption for Barasat Anweshan Project in West Bengal u/s 35AC Until 2018.</h1> The Central Government has extended the eligibility of the project 'Enhancement of the activities of present Nivedita Orphanage Home and Old age Home 'Sankalp'' by Barasat Anweshan in West Bengal as an eligible project under Section 35AC of the Income-tax Act, 1961. Initially approved for three years ending in the financial year 2014-15, the project is now extended for another three years from 2015-16 to 2017-18 with an estimated cost of Rs. 282.13 lakh, including Rs. 50 lakh in corpus funds. However, this exemption does not apply to funds received under the Companies Act and CSR Rules 2014.
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