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of <h1>Government Approves Gujarat School Project as Eligible u/s 35AC of Income-tax Act for Three More Years.</h1> The Central Government has approved the construction of school buildings by a trust in Gujarat as an eligible project under section 35AC of the Income-tax Act, 1961. Initially recognized in 1995 for three years, the project's eligibility was extended in 1999 for another three years. The National Committee has confirmed the project's proper execution and recommended its continuation. Consequently, the government has extended the project's eligibility for a further three years starting from the assessment year 2002-2003, with an estimated cost of INR 17,63,000.
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