Exemption u/s 35AC - of the ITA, 1961, the C.G. had specified for Construction of building for Special School, Hostel and Staff Quarters, Institute for the Mentally Handicapped at Padapalakaluru Village, Guntur, Andhra Pradesh by Sri Dakshinaya Bhava Samithi as an eligible project or scheme - 097/2006 - Income Tax

Central Government Extends Section 35AC Tax Benefit for Special School Project in Andhra Pradesh Until 2008.

The Central Government has extended the eligibility of a project under Section 35AC of the Income-tax Act, 1961, for the construction of a building for a special school, hostel, and staff quarters, as well as the purchase of equipment and furnishings for an institute for the mentally handicapped in Padapalakaluru Village, Guntur, Andhra Pradesh. The project, undertaken by an organization, was initially approved for three years starting from the assessment year 2000-2001 and extended for another three years from 2003-2004. It has now been further extended for three years starting from the financial year 2005-2006, with an estimated cost of Rs. 267.80 lakhs.