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of <h1>Exemption Extended for Karuna Setu Trust's Hospital Project Under Section 35AC; Cost Revised to Rs. 282.60 Lakh</h1> The Central Government has extended the exemption under section 35AC of the Income-tax Act, 1961, for the project 'Running of hospital, purchase of equipment and welfare activities at Vadnagar, Gujarat' by Karuna Setu Trust. Initially notified for three years starting in 1999, the project has received several extensions, with the latest being for three more years beginning in the financial year 2007-08. The project's estimated cost has been revised from Rs. 184.50 lakh to Rs. 282.60 lakh. However, the exemption does not apply to funds collected during the financial year 2007-08.
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