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of <h1>Tax Exemption Extended for Sterlite Foundation's Vocational Training Initiative Under Section 35AC, Income-tax Act, 1961</h1> The Central Government has extended the eligibility of a project under section 35AC of the Income-tax Act, 1961, allowing tax exemptions for the Sterlite Foundation's initiative to set up and run vocational training centers for computer courses and tailoring classes at 45 locations in Mumbai. Initially approved for three years starting in the assessment year 1998-99, the project is now specified for an additional three years beginning with the assessment year 2001-2002. The project involves an estimated cost of INR 1.386 crore and a corpus fund of INR 10.63 crore.
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