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of <h1>Central Government Extends Section 35AC Tax Benefits for Tamil Nadu Medical and Education Projects by Three Years.</h1> The Central Government has extended the eligibility of a project under Section 35AC of the Income-tax Act, 1961, for an additional three years starting from the financial year 2004-2005. This project involves the operation of the Chidbavananda Rural Education and Medical Centre in Veerapandi, the Rural Medical Centre at Anaikatti, and the construction and operation of a hospital in Coimbatore, Tamil Nadu, managed by a local charity trust. Initially approved for the assessment year 2002-2003, the project, with an estimated cost of Rs. 5.57 crores, has been recommended for extension by the National Committee for Promotion of Social and Economic Welfare.
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