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of <h1>Tax Exemption for Mumbai Project: Hostel for Visually Impaired and School for Girls Extended Under Section 35AC</h1> The Central Government has specified a project by an organization in Mumbai as eligible for tax exemption under section 35AC of the Income-tax Act, 1961. This project involves constructing a hostel for visually impaired college students and working women, and running a school for visually impaired girls. Initially approved for three years starting from the 2001-2002 assessment year, the project has been extended for another three years beginning with the 2004-2005 assessment year. The project's estimated cost is one crore rupees, including a corpus fund of thirty lakhs.
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