Exemption u/s 35AC - Central Government had specified for construction, equipments and running of technical school by Shri Purushotam Seva Trust, Advance Technology Management Association, Ahmedabad, as an eligible project or scheme - 501(E) - Income Tax

Project for Technical School in Ahmedabad Gets 3-Year Extension Under Section 35AC of Income-tax Act

The Central Government has specified the project for constructing, equipping, and running a technical school in Sola, Ahmedabad, by a local trust and association as an eligible project under section 35AC of the Income-tax Act, 1961. Initially approved for two years starting from the assessment year 1996-97 and extended for three more years from 1998-99, the project is now approved for an additional three years beginning with the assessment year 2001-2002. The project is estimated to cost one crore rupees and has been deemed to be executed properly by the National Committee.