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of <h1>Central Government Extends Tax Exemption for Sevasangh Sarvajanik Hospital Project in Modasa, Gujarat Under Section 35AC</h1> The Central Government has extended the eligibility of the 'Hospital Project' by Sevasangh Sarvajanik Hospital Trust in Modasa, Gujarat, for tax exemption under section 35AC of the Income-tax Act, 1961. Initially notified in 2006 for three years, the project has been approved for an additional three years, covering financial years 2009-2010 to 2011-2012. The project maintains its approved cost of Rs. 1 crore, including a corpus fund of Rs. 50 lakh. This decision follows a recommendation by the National Committee for Promotion of Social and Economic Welfare, affirming the project's proper execution.
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