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of <h1>Government Extends Funding for Tree Plantation and College Construction Project Under Section 35AC of Income-tax Act</h1> The Central Government, under section 35AC of the Income-tax Act, 1961, has extended the eligibility of a project involving tree plantation, construction, and furnishing of a residential college in Gandhinagar, Gujarat, managed by a local organization. Initially specified for three years starting from the assessment year 1999-2000, the project is now approved for an additional three years from the assessment year 2002-2003. This decision follows a recommendation by the National Committee, which confirmed the project's proper execution. The estimated cost of the project is 4.9 crore rupees.
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