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of <h1>Willingdon Hospital Project in Chennai Gains 3-Year Extension as Eligible Under Income Tax Act Section 35AC</h1> The Central Government has designated the purchase and operation of Willingdon Hospital in Chennai by a Medical Research Foundation as an eligible project under Section 35AC of the Income-tax Act, 1961. Initially specified for three years starting from the 1998-99 assessment year, the project has been extended for an additional three years beginning with the 2001-2002 assessment year. This extension follows a recommendation from the National Committee, recognizing the project's proper execution. The estimated cost of the project is twelve crore rupees.
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