Central Government Extends Sundeep Foundation Project Eligibility for Healthcare and Education in Gujarat, Maharashtra u/s 35AC.

The Central Government has extended the eligibility of a project run by Sundeep Foundation for health care and education activities in Gujarat and Maharashtra under Section 35AC of the Income-tax Act, 1961. Initially specified in 1998 and amended in 2000 and 2001, the project is now approved for an additional three years starting from the financial year 2004-2005. The maximum allowable deduction for the project cost has been increased from Rs. 40 lakhs to Rs. 70 lakhs following recommendations by the National Committee for the Promotion of Social and Economic Welfare.

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