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<h1>NABARD Recognized for Deductions Under Income-tax Act, Section 36(1)(xii), Effective from Assessment Year 2013-14</h1> The Central Government has issued Notification No. 25/2014 under the Income-tax Act, 1961, recognizing the National Bank for Agriculture and Rural Development (NABARD) for purposes under section 36(1)(xii). This allows NABARD to claim deductions on expenditures related to its authorized activities under the National Bank for Agriculture and Rural Development Act, 1981, provided such expenditures are not capital in nature, not deductible under other provisions, and are separately accounted for. This notification is effective from the assessment year 2013-14, corresponding to the financial year 2012-13.