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of <h1>Social Housing Project in Bangalore Gets Extended Tax Exemption Under Section 35AC for Three More Years</h1> The Central Government has extended the eligibility of a social housing project in Bangalore, managed by an organization, for tax exemption under Section 35AC of the Income-tax Act, 1961. Initially approved for three years starting from the 1998-99 assessment year, the project involves constructing houses in Sannathammanahalli, K.R. Puram Taluka, Bangalore South, Karnataka. The National Committee, satisfied with the project's execution, recommended its continuation. Consequently, the government has approved the project for an additional three years, starting from the 2001-2002 assessment year, with an estimated cost of one hundred lakhs.
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