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of <h1>Ministry of Finance Approves Projects Under Section 35AC for Tax Deductions: Medical, Educational, and Welfare Schemes Listed</h1> The notification under Section 35AC of the Income Tax Act, 1961, issued by the Ministry of Finance, lists various institutions approved by the National Committee for Promotion of Social and Economic Welfare. It details the eligible projects or schemes, their estimated costs, and the maximum amounts allowed as deductions under the specified section. The approval covers diverse projects such as medical centers, educational initiatives, infrastructure development, and welfare schemes, with allocations ranging from a few lakhs to several crores. This notification is applicable for three financial years: 2015-16, 2016-17, and 2017-18.
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