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of <h1>Govt Extends Ahmedabad Charitable Trust Project u/s 35AC; Increases Funding Limit to Rs. 175 Lakhs for 3 Years.</h1> The Central Government has extended the eligibility of a project by a charitable trust in Ahmedabad under Section 35AC of the Income-tax Act, 1961. The project involves purchasing ambulances, instruments, and running welfare activities in rural and urban slums. Initially approved for three years starting in 1999, the project is now extended for another three years from the financial year 2004-2005. The maximum allowable project cost has been amended from Rs. 75 lakhs to Rs. 175 lakhs, including a corpus fund of Rs. 30 lakhs, following recommendations from the National Committee for the Promotion of Social and Economic Welfare.
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