Exemption under section 35AC: specified Banwasi Seva Ashram projects extended as eligible schemes for a further three-year period. Central Government specified that certain social welfare projects undertaken by Banwasi Seva Ashram are eligible for tax exemption under the Income-tax Act provision for specified projects, extending eligibility for a further three-year period from financial year 2004-2005; the projects include a rural mission, women and children centres in tribal villages, and a hostel-cum-training centre for disadvantaged students, and the extension was made on the National Committee's recommendation with no change to the approved project cost.