Exemption u/s 35AC - Central Government had specified the (a) Slum Re-housing; (b) Rural Housing; (c) School building reconstruction ; and (d) Training and self-employment of handicapped poor (primarily blind) in rural and urban areas as eligible projects or schemes - S.O.178(E) - Income Tax

Government Extends Section 35AC Eligibility for Projects in West Bengal; Includes Slum Re-Housing, Rural Housing, and More

The Central Government has extended the specification of certain projects as eligible under section 35AC of the Income-tax Act, 1961, for an additional three assessment years starting from 1996-97. These projects include slum re-housing in Rambagan, Calcutta, rural housing in 2,000 villages across eleven districts of West Bengal, school building reconstruction in the same districts, and training and self-employment for handicapped poor, primarily blind, in rural and urban areas of Belur Math, West Bengal. The estimated costs for these projects are Rs. 50 lakhs, Rs. 235 lakhs, Rs. 30 lakhs, and Rs. 95 lakhs, respectively.