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of <h1>Government Extends Section 35AC Tax Exemption for Tamilnadu Development Projects by Two Years, Starting 2000-2001.</h1> The Central Government has extended the exemption under section 35AC of the Income-tax Act, 1961, for the Area Development Project and Rural Area Development Project, including a Medical and Health Programme at Karlapakkam, Tamilnadu. These projects, conducted by the Society for Social Education and Research and the Madras School of Social Work, were initially approved for three years starting from the 1997-98 assessment year. The National Committee recommended extending the eligibility for an additional two years, commencing from the 2000-2001 assessment year, with an estimated project cost of INR 31,34,000.
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