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of <h1>'Muktangan' Project for Slum Children in Mumbai Gets 3-Year Tax Benefit Extension Under Section 35AC</h1> The Central Government has extended the eligibility of the 'Muktangan' Balwadi and school project for children of slum dwellers and factory workers, managed by Paragon Charitable Trust in Mumbai, under Section 35AC of the Income-tax Act, 1961. Initially approved for two years starting in the assessment year 2006-07 and extended for three more years in 2008, the project is now further extended for three years from the financial year 2011-12 to 2013-14. The approved cost remains Rs. 37.80 lakh for recurring expenses and Rs. 4.55 crore for the corpus fund.
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