Exemption u/s 35AC - Central Govt. had specified for Setting up and running of vocational training centres for computer courses and tailoring classes at 45 centres, by Sterlite Foundation as an eligible project or scheme - Amendment in N. No S.O.54(E) dated the 16th January,1998 - 155/2004 - Income Tax

Central Government Expands Sterlite Foundation's Vocational Training Project to 386 Centers, Boosts Funding Under Section 35AC

The Central Government, under section 35AC of the Income-tax Act, 1961, has amended the notification regarding the Sterlite Foundation's project for setting up vocational training centers. Initially approved for 45 centers, the project now includes 386 centers for computer courses and tailoring classes. The project's estimated cost has been revised from Rs. 1063.00 lakhs to Rs. 8372.62 lakhs, including a corpus fund of Rs. 7242 lakhs. This amendment reflects the National Committee's satisfaction with the project's execution and its recommendation for increased funding to support the expanded scope.