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of <h1>Govt extends Section 35AC tax exemption for Gujarat society's educational and health project until assessment year 2001-2002.</h1> The Central Government has extended the exemption under Section 35AC of the Income-tax Act for a project by a society in Gujarat. This project involves constructing a tutorial and children's activity hall, a compound wall, a T.B. Centre, and other educational activities. Initially specified in 1997 for three years, the project is now extended for another three years starting from the assessment year 2001-2002. The project, executed by a society focused on rural health and development, has an estimated cost of 33 lakhs INR plus a corpus fund of 25 lakhs INR.
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