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of <h1>Drinking water project in Anantpur extended under Section 35AC for additional tax benefits for 1997-98.</h1> The Central Government has extended the eligibility of the drinking water supply project in District Anantpur, Andhra Pradesh, undertaken by a local trust, as an eligible project under Section 35AC of the Income-tax Act, 1961. Initially specified for the assessment year 1996-97, the project is now approved for an additional year, 1997-98, due to its satisfactory execution. The project, estimated to cost 178.5 crores, was initially notified in May 1995. The extension follows a recommendation by the National Committee, ensuring continued tax exemption benefits for contributions made towards the project.
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