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of <h1>Jivan Jyot Project in Mumbai Gains Section 35AC Tax Benefits for Medical Aid, Education, and Foodgrains Support</h1> The Central Government has designated a project by Jivan Jyot Charitable Trust in Mumbai as eligible under section 35AC of the Income-tax Act, 1961. This project, which provides medical aid, education, and foodgrains, was initially approved for three years starting in the 1999-2000 assessment year. Due to its proper execution, the National Committee recommended extending the project's eligibility for an additional three years, beginning with the 2002-2003 assessment year. The project has an estimated cost of 100 lakhs, including a 25 lakh corpus fund.
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