U/s. 35AC, IT ACT, 1961 - Eligible Projects Or Schemes, Expenditure On –Paragon Charitable Trust, Mumbai - 84/2013 - Income Tax

Tax deduction under section 35AC: notified project eligibility extended and recurring expense ceiling increased.

Notification extends the 'Muktangan' Balwadi and school project of Paragon Charitable Trust as a notified project qualifying for deduction under section 35AC for a further three financial years commencing 2014-15, based on the National Committee's recommendation that the project is properly executed and merits extension and an increased estimated cost; it also amends the earlier notification to raise the ceiling for recurring expenditure while retaining the corpus fund amount.