Section 35AC deduction extended for three years and maximum allowable project cost increased by government notification. The Central Government has notified that Srinivasan Services Trust's rural development and afforestation scheme for 30 villages is an eligible project for tax-deduction purposes for three further financial years beginning 2014-15 to 2016-17, following a recommendation by the National Committee for the Promotion of Social and Economic Welfare; the notification also amends prior entries to increase the maximum allowable project cost for deduction claims and consolidates earlier changes to villages, project name and beneficiary count.
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Section 35AC deduction extended for three years and maximum allowable project cost increased by government notification.
The Central Government has notified that Srinivasan Services Trust's rural development and afforestation scheme for 30 villages is an eligible project for tax-deduction purposes for three further financial years beginning 2014-15 to 2016-17, following a recommendation by the National Committee for the Promotion of Social and Economic Welfare; the notification also amends prior entries to increase the maximum allowable project cost for deduction claims and consolidates earlier changes to villages, project name and beneficiary count.
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