Tax exemption under section 35AC: eligible status for a welfare project extended, excluding CSR Schedule VII funds. The Central Government designates the 'Running projects for the welfare of visually impaired' by National Association for the Blind, Faridabad, as an eligible project under the tax exemption provision corresponding to section 35AC for three further financial years commencing 2016-17, maintaining the approved project cost of Rs. 300 lakh. The notification follows the National Committee's recommendation under rule 11M(5) of the Income tax Rules and stipulates that the exemption will not apply to funds received under Schedule VII of section 135 of the Companies Act and the Companies (CSR) Rules, 2014.