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of <h1>Sankar Foundation's Project Gains Two-Year Tax Exemption Extension Under Section 35AC of Income-tax Act 1961</h1> The Central Government has extended the eligibility of a project by Sankar Foundation in Visakhapatnam, Andhra Pradesh, for tax exemption under Section 35AC of the Income-tax Act, 1961. Initially specified in 1998, the project involves purchasing equipment and running hospital projects. Originally approved for three years starting from the assessment year 1999-2000, the project is now extended for an additional two years, commencing from the assessment year 2002-2003, following a recommendation by the National Committee. The estimated cost of the project is one crore four lakhs fifty-one thousand.
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