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of <h1>Mumbai Trust's Hospital Project Under Section 35AC Gets 3-Year Extension; Funding Increased to Rs. 906 Lakh</h1> The Central Government has extended the eligibility of a project by a Mumbai-based trust under section 35AC of the Income-tax Act, 1961. Initially notified in 1997, the project involves constructing and modernizing hospital facilities, including mobile health clinics. The project was previously extended multiple times and is now approved for an additional three years starting from the financial year 2008-09. The maximum allowable project cost has been increased from Rs. 270.00 lakh plus a corpus fund of Rs. 36.00 lakh to Rs. 906.00 lakh, following recommendations by the National Committee for the Promotion of Social and Economic Welfare.
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