Gujarat Medical Project Gets Tax Deduction Extension to 2014-15; Cost Limit Raised to Rs. 610 Lakh u/s 35AC.

The Central Government has extended the eligibility of a project by a society in Gujarat, which provides free medical services such as polio and cataract operations and artificial limbs for the orthopedically disabled, under section 35AC of the Income-tax Act. Originally approved for three years starting in 2006-07, and extended in 2009, the project is now further extended for three more years from 2012-13 to 2014-15. Additionally, the project's cost limit for tax deduction has been increased from Rs. 500 lakh to Rs. 610 lakh, following recommendations from the National Committee for Promotion of Social and Economic Welfare.

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