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of <h1>Govt Approves Tax-Deductible Projects: Hospitals, Schools, Rural Development u/s 35AC, Income-tax Act, 1961.</h1> The Central Government, under Section 35AC of the Income-tax Act, 1961, approves various institutions for eligible projects or schemes, allowing specific expenditure as tax deductions. Projects include hospital construction, road maintenance, school and hostel building, rural development, cancer awareness, and rehabilitation programs across multiple Indian states. The notification lists institutions, project details, estimated costs, and maximum tax-deductible amounts. The notification remains effective for two years for certain projects and three years for others, covering assessment years 1997-98 to 1999-2000.
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