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of <h1>Mumbai Charitable Trust Project Gains 3-Year Tax Exemption Extension u/s 35AC; Budget Raised to Rs. 135 Lakhs.</h1> The Central Government has extended the eligibility of a project by a charitable trust in Mumbai for tax exemption under Section 35AC of the Income-tax Act, 1961. Initially specified in 1998, the project provides medical aid, education, and food assistance. The project, initially approved for three years and extended in 2001, is now approved for an additional three years starting from the financial year 2004-2005. The project's estimated cost has been amended from Rs. 25 lakhs to Rs. 135 lakhs, including a corpus fund of Rs. 25 lakhs, reflecting the project's expansion and continued execution.
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