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<h1>School Adoption Scheme in Mumbai gets three-year extension under Income-tax Act, Section 35AC, with Rs. 3 crore funding.</h1> The Central Government has designated the School Adoption Scheme and Balwadi Project in Mumbai, managed by The Bombay Community Public Trust, as an eligible project under section 35AC of the Income-tax Act, 1961. Initially recognized in 1997 for three years and extended in 2000, the project is set to continue beyond six years. Following a recommendation by the National Committee for Promotion of Social and Economic Welfare, the government has approved an additional three-year extension starting from the assessment year 2004-2005, with an estimated project cost of three crores.