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of <h1>Rural Medical and Research Centre Project in Mumbai Gets 3-Year Extension Under Section 35AC of Income-tax Act.</h1> The Central Government has extended the eligibility of the project 'Construction, equipment, furnishing and running of a Rural Medical and Research Centre' by a foundation in Mumbai under Section 35AC of the Income-tax Act, 1961, for an additional three years starting from the financial year 2010-11. This project, initially approved in 1995 and extended periodically, will continue without any change in the approved cost of Rs. 2 crore. However, no tax exemption certificate will be issued for the financial year 2010-11 as it has already lapsed.
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