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of <h1>Central Government Extends Chennai Construction Project Eligibility Under Section 35AC for Three More Years, Cost Unchanged</h1> The Central Government has extended the eligibility of the project 'Construction of building, staff quarters, overhead water tank etc.' by an organization in Chennai under Section 35AC of the Income-tax Act, 1961. Initially notified in 2003 and extended in 2006, the project is now approved for an additional three years starting from the financial year 2009-2010. This decision follows a recommendation by the National Committee for Promotion of Social and Economic Welfare, confirming the project's proper execution. The approved cost remains unchanged at Rs. 5.28 crore.
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