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of <h1>Tax Deduction for Public Welfare Projects u/s 35AC: Eligibility and Certification Requirements Explained.</h1> Section 35AC of the Income-tax Act, introduced by the Finance (No. 2) Act, 1991, allows taxpayers to claim deductions for expenditures on eligible projects or schemes. These expenditures must be made to a public sector company, local authority, or an approved association or institution, or directly on the project. To qualify for the deduction, a certificate must accompany the tax return, verifying the expenditure. The deduction is exclusive, meaning it cannot be claimed under any other provision for the same expenditure. Eligible projects are those promoting public welfare, as specified by the Central Government based on recommendations from the National Committee.
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