Exemption u/s 35AC – Amendments in Notification no. SO 399(E), dated the June 6, 1996 – Projects of Dardiono Rahat Fund, Ahmedabad - SO 1317(E) - Income Tax

Exemption under section 35AC: Medical Relief Project re-specified with extended period and increased allowable project cost.

The Central Government re-specifies the 'Medical Relief Project at Ahmedabad' by Dardiono Rahat Fund as eligible under Section 35AC for three years beginning with financial year 2008-09, following the National Committee's recommendation that the project is being executed properly and may extend beyond twelve years. The notification also amends the prior notification to substitute the previously specified maximum project cost with an enhanced amount, thereby increasing the maximum cost allowable as a deduction under the relevant provision.