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of <h1>Central Government Approves Tax Deductions for Various Projects u/s 35AC of Income-tax Act, 1961.</h1> The Central Government, under the Income-tax Act, 1961, has approved several institutions for eligible projects or schemes, allowing specific expenditures to be deducted under Section 35AC. The projects include vermi-technology in West Bengal, water development in Gujarat, skill training in Bihar, legal aid in Kerala, medical services in Gujarat, leprosy hospital support, stadium improvements in Bangalore, school construction in Maharashtra, and hospital maintenance in Gujarat. The notification specifies the estimated costs and maximum deductible amounts for each project, with the notification valid for two to three years depending on the project.
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