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of <h1>'Satya Bharti Schools' Project Gains Extended Tax Benefits, Cost Allowance Increased Under Section 35AC of Income-tax Act</h1> The Central Government has recognized 'Satya Bharti Schools,' a project by Bharti Foundation in New Delhi, as an eligible scheme under Section 35AC of the Income-tax Act, 1961. Initially notified in 2007 for three years, the project involves establishing and supporting over 60 primary schools and non-formal education. Due to its anticipated extension beyond the initial period and proper execution, the National Committee recommended increasing the project's cost allowance from Rs. 35 crore to Rs. 115 crore, including corpus funds. This notification amends the previous cost deduction limits for the project.
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