Tax exemption under section 35AC: eligible charitable eye care project's exemption extended for a further three-year period. Central Government specified continuation of the tax exemption under section 35AC for the Venu Eye Institute and Research Centre by Venu Charitable Society, extending the project's eligibility for a further three-year period commencing with the financial year 2004-2005 without change in the approved project cost, following recommendation of the National Committee under rule 11M of the Income-tax Rules.