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of <h1>Govt Approves Projects for Tax Deduction u/s 35AC, Covering Education, Rural Development, and Medical Aid.</h1> The Central Government, based on recommendations from the National Committee, has approved various institutions and specified eligible projects or schemes under section 35AC of the Income-tax Act, 1961. The notification includes details of projects, estimated costs, and the maximum deductible amounts allowed. Projects range from educational materials and rural development to medical aid and infrastructure development across India. The notification specifies the duration for which these projects are eligible for tax deductions, varying from one to three years depending on the project. The notification also includes updates and amendments to previously stated costs and deductible amounts.
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