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<h1>Government Extends Hospital Project Eligibility Under Section 35AC, Income-tax Act, 1961, for Additional Three Years</h1> The Central Government, under section 35AC of the Income-tax Act, 1961, has extended the eligibility of the project involving the construction, equipment purchase, and operation of a hospital at Vaso, Nadiad, by an organization in Gujarat. Initially approved for three years starting in the 1998-99 assessment year, the project is now extended for an additional three years from the 2001-2002 assessment year. This decision follows a recommendation by the National Committee, affirming the project's proper execution and estimated cost of forty-two lakhs.