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of <h1>Eye Hospital Project in Tamil Nadu Gets Section 35AC Approval; Funding Increased to Rs. 53.75 Lakhs</h1> The Central Government has specified the construction, equipment, and furnishing of an eye hospital in Tamil Nadu as an eligible project under section 35AC of the Income-tax Act, 1961. Initially recognized in 1995 for two years, the project was extended in 1997 for three more years. The National Committee, satisfied with its execution, recommended another extension for three years starting from the 2001-2002 assessment year. The project cost allowance was amended from Rs. 10.00 lakhs to Rs. 53.75 lakhs. The project is managed by a hospital located in South Tiruvarur, Tamil Nadu.
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