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of <h1>Bangalore's Swimming Pool Complex Project Extended u/s 35AC for 3 More Years, Tax Benefits Continue.</h1> The Central Government has designated the construction of a swimming pool complex with boarding, lodging, and a modern gymnasium in Bangalore, managed by Basavanagudi Aquatic Centre, as an eligible project under Section 35AC of the Income-tax Act, 1961. Initially approved for three years starting from the 1996-1997 assessment year, the project's eligibility was extended twice, covering up to the 2002-2003 assessment year. Following a recommendation from the National Committee for Promotion of Social and Economic Welfare, the project is further extended for three years from the 2004-2005 financial year without altering the approved cost.
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