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of <h1>Charitable Trust's Tax-Exempt Project Extended for 3 Years; Includes Medical Aid & Welfare Activities Under Section 35AC</h1> The Central Government has extended the eligibility of a project by a charitable trust for tax exemption under Section 35AC of the Income Tax Act, 1961. The project involves purchasing ambulances, medical instruments, and conducting welfare activities such as medical aid, camps, and distributing food and clothes. Initially notified in 1998, the project has been extended multiple times, with the latest extension covering three more years from the financial year 2007-2008. The estimated project cost has been increased from Rs. 175 lakh to Rs. 325 lakh, with an additional corpus fund of Rs. 30 lakh.
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