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of <h1>Central Government Extends Tax Exemption for Bhavnagar Vruddhashram Trust's Project u/s 35AC for Three More Years.</h1> The Central Government has extended the eligibility of the Bhavnagar Vruddhashram Trust's project in Gujarat for tax exemption under Section 35AC of the Income-tax Act, 1961. This project involves the construction of a building, purchase of equipment, and operation of a Vruddhashram (elderly care home) named Jeevan Sandhya Sushrusha Dham. Initially approved for three years starting from the assessment year 2001-2002, the project is now specified for an additional three years from the assessment year 2004-2005, with an estimated cost of Rs. 5.5 crores, including a corpus fund of Rs. 1.25 crores.
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