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of <h1>Central Government Extends Bhansali Trust's Rural Development Project in Mumbai; Cost Ceiling Raised u/s 35AC.</h1> The Central Government has extended the 'Integrated Rural Development Project' by Bhansali Trust in Mumbai for three additional years, covering the financial years 2011-12, 2012-13, and 2013-14. This extension follows recommendations from the National Committee for the Promotion of Social and Economic Welfare, recognizing the project's successful execution. The project's cost ceiling, eligible for deduction under Section 35AC of the Income-tax Act, 1961, has been increased from Rs. 18.94 crore to Rs. 32.14 crore. This notification amends the previous notification dated 22nd January 2003, reflecting the revised cost allowance.
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