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of <h1>Govt Extends 35AC Tax Benefit for Vadnagar Hospital Project; Raises Funding Limit to Rs. 184.50 Lakhs.</h1> The Central Government, under section 35AC of the Income Tax Act, 1961, has extended the eligibility of a project run by a trust in Vadnagar, Gujarat, for maintaining a hospital, purchasing equipment, and conducting welfare activities. Initially notified in 1999 and extended in 2001, the project is now approved for an additional three years starting from the financial year 2004-2005. The maximum allowable project cost has been amended from Rs. 142.03 lakhs to Rs. 184.50 lakhs, including a Rs. 50 lakh corpus fund. This decision follows recommendations from the National Committee for the Promotion of Social and Economic Welfare.
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