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of <h1>Govt Extends Tax Exemption for Bangalore School and Rehab Project u/s 35AC for Three More Years.</h1> The Central Government has extended the exemption under Section 35AC of the Income-tax Act, 1961, for a project involving the construction of a building, purchase of equipment, and the operation of a school and rehabilitation center at Ramo Halli, Kengeri, Bangalore South, Karnataka. This project, managed by an entity at Ramo Halli, Bangalore, was initially recognized in 1998 and has been periodically extended. The National Committee for Promotion of Social and Economic Welfare has recommended further extension, and the project is now specified for an additional three years starting from the financial year 2006-07, maintaining the approved cost of two crores.
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