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of <h1>Agra Sports Center Project by Charitable Trust Gets Two-Year Extension u/s 35AC of Income-tax Act.</h1> The Central Government has specified the construction and operation of a sports center in Agra by a charitable trust as an eligible project under section 35AC of the Income-tax Act, 1961. Initially recognized for three years starting from the assessment year 1997-98, the project received an extension for another three years beginning in 2000-2001. Due to satisfactory execution and the likelihood of extending beyond six years, the National Committee recommended further specification for an additional two years starting from the assessment year 2003-2004. The estimated project cost is INR 1.55 crore.
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