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of <h1>Government Approves Tax-Exempt Projects: Medical Center in Jammu and Sub-Way in Bangalore u/s 35AC.</h1> The Central Government, under section 35AC of the Income-tax Act, 1961, has approved certain projects for tax exemption. Swagat Medical and Education Centre is approved for constructing a medical center in Jammu, with a cost of Rs. 62 lakhs, subject to conditions like discounted clinical tests and free diagnosis for low-income patients. Jindal Aluminium Limited is approved for constructing a sub-way on the Bangalore-Tumkur Road, costing Rs. 20 lakhs. These projects are eligible for tax deductions, with Swagat's project valid for three years and Jindal's for one year, covering specific assessment years.
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