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of <h1>Charitable Trust's Hospital Project Gains 2-Year Extension Under Section 35AC, Ensuring Ongoing Tax Benefits for Donors.</h1> The Central Government has designated the construction of a hospital and research center by a charitable trust in Ujjain as an eligible project under Section 35AC of the Income-tax Act, 1961. Initially specified for one assessment year, the project has been extended for an additional two years, starting from the 1997-98 assessment year, due to satisfactory execution. The estimated cost of the project is 1.5 crore rupees. This extension allows continued tax exemption benefits for contributions made towards the project.
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