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of <h1>Vishwabalak Kendra Project in Mumbai Gains Section 35AC Tax Benefits for Further Two Years with INR 1.19 Crore Budget.</h1> The Central Government has designated the land development, construction, furnishing, and equipment/medicines project for Vishwabalak Kendra, managed by Children of the World (India) Trust in Mumbai, as an eligible project under Section 35AC of the Income Tax Act, 1961. Initially specified for two years starting in the 1996-97 assessment year, the project was extended for two additional years beginning in 1998-99. Due to the project's continued execution and recommendation by the National Committee, it is now specified for a further two years starting with the 2000-2001 assessment year, with an estimated cost of INR 1,19,72,000.
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