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of <h1>Indian Government Extends Tax-Exempt Project in Gujarat Under Section 35AC for Three More Years</h1> The Central Government has extended the eligibility of a project by an organization in Gujarat under section 35AC of the Income-tax Act, 1961. This project, which includes a higher education complex, hostel, residential accommodation, agricultural development, and animal husbandry, was initially approved for three years starting in the 2006-07 financial year. After a recommendation from the National Committee for Promotion of Social and Economic Welfare, the project is now approved for an additional three years, covering the financial years 2009-10 to 2011-12, with an unchanged cost of Rs. 25.25 crores.
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