Tax exemption under section 35AC extended for rural medical centre project following committee recommendation and prior approvals. The Central Government specifies continuation of tax-exempt status under section 35AC for the Construction, equipments, furnishing and running of Smt. Lakshmi Shah Rural Medical and Research Centre by Smt. Lakshmi and Shri Janki Lal Shah Foundation for a further three years commencing with the financial year 2004-2005. This extension follows the National Committee's recommendation under rule 11M(5) of the Income-tax Rules that the project is being executed properly and is granted without change to the approved project cost of Rs. 200.00 lakhs.