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of <h1>Mata Gujari Old Age Home in Punjab gets extended tax exemption u/s 35AC for three more years.</h1> The Central Government has extended the eligibility of the Mata Gujari Old Age Home-cum-orphanage project in Punjab, managed by a welfare council, for tax exemption under Section 35AC of the Income-tax Act, 1961. Initially recognized in 1995, the project has been periodically extended and its budget increased. The latest amendment extends the project's eligibility for an additional three years starting from the financial year 2003-2004 and raises the maximum allowable cost from Rs. 99.00 lakhs to Rs. 159.00 lakhs, as recommended by the National Committee for the Promotion of Social and Economic Welfare.
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