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of <h1>Govt Raises Tax-Deductible Project Cost for Medical Care and Housing Initiative to Rs. 170 Crore Under Section 35AC</h1> The Central Government has issued a notification under Section 35AC of the Income-tax Act, 1961, regarding a project by an organization in New Delhi. This project focuses on providing medical care to elderly individuals, leprosy and cancer patients, housing for elderly and destitute women, and conducting eye camps. Initially recognized in 1993, the project has undergone several extensions and cost enhancements. The latest amendment increases the allowable project cost for tax deduction purposes from Rs. 120 crore to Rs. 170 crore, following the recommendation of the National Committee for Promotion of Social and Economic Welfare.
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