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of <h1>Government Amends Eligibility for Section 35AC Projects: Cost Increase for Water and Education Initiatives in Orissa</h1> The Central Government has amended notification S.O. 97(E) concerning eligible projects under Section 35AC of the Income-tax Act, 1961. The project involves digging tube-wells for potable water, repairing schools, promoting agricultural activities, and providing medical facilities in Keonjhar District, Orissa, managed by a specific company. Initially approved in 1999, the project has been extended multiple times, with the latest extension covering 2010-2013. The estimated cost has been increased from Rs. 1.66 crore to Rs. 3.16 crore, as recommended by the National Committee for Promotion of Social and Economic Welfare, due to the project's ongoing nature.
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