Section 35AC deduction: notified charitable projects permitted specified project costs as tax-deductible over consecutive financial years. The Central Government notifies two charitable institutions under Section 35AC, specifying their eligible projects, estimated costs (including corpus funds) and the maximum amounts allowable as deductions for the projects. The notification limits the approvals and deductible amounts to the specified three financial years commencing 2013-14 through 2015-16, thereby defining the temporal and monetary scope for claiming deductions under Section 35AC for the named schemes.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Section 35AC deduction: notified charitable projects permitted specified project costs as tax-deductible over consecutive financial years.
The Central Government notifies two charitable institutions under Section 35AC, specifying their eligible projects, estimated costs (including corpus funds) and the maximum amounts allowable as deductions for the projects. The notification limits the approvals and deductible amounts to the specified three financial years commencing 2013-14 through 2015-16, thereby defining the temporal and monetary scope for claiming deductions under Section 35AC for the named schemes.
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