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of <h1>Government Extends Section 35AC Tax Benefits for Mumbai Project Supporting Mentally Ill Destitute for Another Three Years</h1> The Central Government has extended the designation of a project by a rehabilitation foundation in Mumbai as eligible under Section 35AC of the Income-tax Act, 1961. Initially recognized in 2002 for a three-year period starting from the 2003-2004 assessment year, the project supports mentally ill destitute individuals. Following a recommendation from the National Committee for Promotion of Social and Economic Welfare, the project is approved for an additional three years starting from the 2005-2006 financial year, with an unchanged approved cost of Rs. 43.30 lakhs.
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