Exemption under section 35AC: Integrated rural development project specified as eligible, extending tax-exempt status for an additional period. The Central Government specifies an exemption under section 35AC for the Integrated Rural Development project carried out by PHD Rural Development Foundation in ten villages of Tijara and Nimrana Blocks, Alwar, Rajasthan, and extends its eligibility as an eligible project for a further two-year period commencing with the assessment year 2002-2003, based on the National Committee's recommendation and satisfaction with project execution.