Exemption u/s 35AC - Central Government had specified for purchase of equipments and providing facilities for intraoccular lens operation by Smt. Rekhaben Kataria Smruti Trust-Morbi, Rajkot, Gujarat, as an eligible project or scheme - Amendment in Notification No. S.O. 676(E), dated 11th August, 82 - S.O.555(E) - Income Tax

Government Extends Project for Intraocular Lens Operations, Increases Funding Under Section 35AC of Income-tax Act, 1961.

The Central Government has extended the eligibility of a project by a trust in Morbi, Rajkot, Gujarat, for purchasing equipment and providing facilities for intraocular lens operations under Section 35AC of the Income-tax Act, 1961. Initially approved for three years starting from the assessment year 1999-2000, the project is now extended for an additional three years beginning with the assessment year 2002-2003. The maximum allowable project cost has been increased from Rs. 21 lakhs to Rs. 33 lakhs, following recommendations from the National Committee.