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of <h1>Government Extends Section 35AC Tax Benefits for Tribal and Welfare Projects, Including Well Digging, for Additional Three Years</h1> The Central Government has extended the designation of certain welfare projects as eligible under section 35AC of the Income-tax Act, 1961. These projects include the running of tribal and backward class welfare initiatives in various locations, including Jhargram and Calcutta, and the digging of 60 wells in specific areas. Initially approved for three years starting from the 1996-97 assessment year, the projects have been recommended for an additional three years, beginning with the 1999-2000 assessment year. The estimated cost for these projects is seventy-nine lakhs, fifty thousand rupees.
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