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of <h1>Tax Exemption Extended for Rayalaseema Seva Samithi's Project Under Section 35AC of Income-tax Act</h1> The Central Government has extended the eligibility of the project undertaken by Rayalaseema Seva Samithi (RASS) in Andhra Pradesh for tax exemption under Section 35AC of the Income-tax Act, 1961. This project involves constructing an Administrative Building, Training-cum-Production Centre, and Women Hostel at M.R. Palli, Tirupati Rural, Chittoor District. Initially approved for three years starting from the 1998-99 assessment year, the project is now extended for an additional two years, commencing with the 2001-2002 assessment year, with an estimated cost of ninety-two lakhs.
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