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of <h1>Central Government Extends Welfare Scheme Eligibility u/s 35AC for Three More Years, Increases Project Funding.</h1> The Central Government has extended the eligibility of a welfare scheme under Section 35AC of the Income-tax Act, 1961, originally notified in 2005, for an additional three years, covering financial years 2008-2009 to 2010-2011. This scheme, implemented by a company in Assam, includes projects such as school and college development, scholarships, community health, and vocational training. The project cost has been increased from Rs. 3.90 crore to Rs. 8.30 crore following recommendations from the National Committee for the Promotion of Social and Economic Welfare, indicating the project's successful execution and anticipated continuation.
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