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of <h1>India Extends Tax Deduction for Mount Abu Hospital Project u/s 35AC; Funding Increased to Rs. 1361.27 Lakhs.</h1> The Government of India has extended the eligibility of the Global Hospital & Research Centre's project for constructing and running a hospital in Mount Abu, Rajasthan, under section 35AC of the Income-tax Act, 1961. Initially recognized in 1997, the project was granted eligible status for three-year periods starting from 1998, 2001, and 2004. Due to ongoing execution and recommendations from the National Committee for Promotion of Social and Economic Welfare, the project is now extended for an additional three years from the 2006-2007 financial year. The project's allowable deduction cost is increased from Rs. 61.27 lakhs plus a Rs. 500 lakh corpus fund to Rs. 1361.27 lakhs, including the corpus fund.
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