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Exemption u/s 35AC - Central Government had specified for running of hospital, purchase of equipments and welfare activities by Karuna Setu Trust, Gujarat, as an eligible project or scheme - 6 - Income Tax Act, 1961
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Exemption for charitable hospital project extended; eligibility renewed for additional assessment years by central government after committee recommendation. The Central Government, acting under the Explanation to the Income tax Act and following a recommendation by the National Committee, specifies the Karuna Setu Trust's scheme of running a hospital, purchasing equipment and providing welfare activities at Vadnagar, Mehsana District, Gujarat, as an eligible project for tax exemption for a further three assessment years commencing from assessment year 2002-2003, at the estimated project cost including a corpus fund.
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Exemption for charitable hospital project extended; eligibility renewed for additional assessment years by central government after committee recommendation.
The Central Government, acting under the Explanation to the Income tax Act and following a recommendation by the National Committee, specifies the Karuna Setu Trust's scheme of running a hospital, purchasing equipment and providing welfare activities at Vadnagar, Mehsana District, Gujarat, as an eligible project for tax exemption for a further three assessment years commencing from assessment year 2002-2003, at the estimated project cost including a corpus fund.
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