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of <h1>Government Extends Eligibility for Sports Hostel Project Under Section 35AC of Income-tax Act for Three More Years</h1> The Central Government has extended the eligibility of a project under section 35AC of the Income-tax Act, 1961, for the construction and furnishing of sports hostels 'Faquir Kutir' for resource persons and 'Arohan' for the youth by an organization in New Delhi. Initially specified in 1995 and extended in 1998, the project at Van Niwas, Nainital, Uttar Pradesh, has been approved for an additional three years starting from the assessment year 2002-2003. The project is recognized for its proper execution and is estimated to cost approximately 1.59 crore rupees.
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