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of <h1>Government Approves Manipur Development Project for Tribals with Tax Benefits Under Section 35AC of Income-tax Act</h1> The Central Government, based on recommendations from the National Committee, has approved the 'Manipur Shifting Cultivators' Development Association' project under section 35AC of the Income-tax Act, 1961. The project involves constructing houses, a community hall, school buildings, hostels, an indoor stadium, animal sheds, purchasing furniture, and running welfare schemes for the tribals of Munpi Village. The estimated cost is Rs. 859.53 lakhs, with the specified amount eligible for tax deduction. This notification is valid for three years, covering assessment years 2003-2004, 2004-2005, and 2005-2006.
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