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of <h1>Section 35AC: Tax Deduction Boost for CRY's Nationwide Development Project; Cost Limit Raised to Rs. 255.14 Crore</h1> The notification under section 35AC of the Income-tax Act, 1961, recognizes the 'CRY Supported Development project all over India' as an eligible scheme for tax deductions. This project, managed by CRY (Child Relief and You) in New Delhi, has been extended multiple times, with its cost estimates revised from Rs. 1650 lakh to Rs. 255.14 crore. The National Committee for Promotion of Social and Economic Welfare confirmed the project's proper execution, recommending the cost amendment. The latest notification substitutes the previous cost limit of Rs. 188.39 crore with Rs. 255.14 crore for tax deduction purposes.
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