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of <h1>Central Government Approves Tax Deduction for Projects Under Income-tax Act Section 35AC, Including Social Forestry and Hospitals.</h1> The Central Government, under Section 35AC of the Income-tax Act, 1961, has approved various institutions for eligible projects or schemes, allowing specific expenditure deductions. The notification lists organizations along with their projects, estimated costs, and maximum deductible amounts. Projects include social forestry, hospital operations, educational facilities, and rural development initiatives across India. Notable projects include a social forestry project in Manipur, a polio hospital in Rajasthan, and a rural development project in Maharashtra. The financial details, including corpus funds, for each approved project, enabling tax deductions for the specified amounts.
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