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of <h1>'Integrated Rural Development Project' in Pune Gains Tax Exemption Extension Under Section 35AC, Raising Cost to Rs. 821.80 Lakh.</h1> The Central Government has notified the 'Integrated Rural Development Project' by an organization in Pune as an eligible project under section 35AC of the Income-tax Act, 1961. Initially recognized in 1992, the project's eligibility for tax exemption has been extended multiple times, with the latest extension covering the financial year 2008-2009. The project's estimated cost has been progressively increased, now reaching Rs. 821.80 lakh. The National Committee for Promotion of Social and Economic Welfare has confirmed the project's proper execution and recommended the cost enhancement. The notification amends previous specifications to reflect the updated project cost.
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