Exemption u/s 35AC - Central Government had specified for purchase of equipments-instrurnents-vehicles and running of blood bank and eye bank by Mehsana Jaycees Charitable Trust, North Gujarat, as an eligible project or scheme - S.O.547(E) - Income Tax

Government Extends Mehsana Jaycees Charitable Trust's Project Eligibility Under Section 35AC for Three More Years

The Central Government has extended the eligibility of the Mehsana Jaycees Charitable Trust's project in North Gujarat under section 35AC of the Income-tax Act, 1961. Initially recognized for three years starting from the assessment year 1999-2000, the project involves the purchase of equipment, instruments, vehicles, and the operation of a blood bank and eye bank. Based on the National Committee's recommendation and satisfactory execution, the project is now specified as eligible for an additional three years starting from the assessment year 2002-2003, with an estimated cost of INR 20.94 lakhs and a corpus fund of INR 10 lakhs.