Exemption u/s 35AC - Central Government had specified for construction of building, medical equipments, furnishing, ambulance and preliminary expenses of 30 bed hospital and community health workers' programme by Dr. M. L. Dhawale Memoraial Trust, Mumbai, as an eligible project or scheme - 283(E) - Income Tax

Exemption under Section 35AC extended for Mumbai trust's hospital project, including new equipment and community health programs.

The Central Government has extended the exemption under section 35AC of the Income-tax Act, 1961, for a project by a Mumbai-based trust involving the construction and modernization of a hospital, provision of medical equipment, furnishing, ambulances, and community health programs in Maharashtra. Initially approved for three years starting in the assessment year 1998-1999, the project is now extended for an additional three years beginning with the assessment year 2001-2002. The estimated cost is INR 2.7 crores, with a corpus fund of INR 36 lakhs. The extension follows a recommendation by the National Committee after satisfactory execution of the project.