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of <h1>Govt Approves Tax Deduction for Projects Under Section 35AC: Sports, Hospitals, Education & More Across India</h1> The Central Government, based on recommendations from the National Committee, has approved several institutions under section 35AC of the Income-tax Act, 1961. These institutions are eligible for deductions for specific projects, including sports promotion, hospital construction, educational facilities, community development, and dairy projects. The notification specifies the estimated costs and maximum deductible amounts for each project. The approved projects span various locations in India, such as New Delhi, Nashik, Gujarat, Rajasthan, Lucknow, Bihar, and Maharashtra. The notification is valid for two years for the first project and three years for the others, covering assessment years 2001-2002 to 2003-2004.
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