Tax deduction under Section 35AC: eligible project cost increased, expanding allowable deduction for specified old age home. Amendment under Section 35AC increases the maximum permissible project cost for the Sevalaya old age home project, substituting the earlier cost figure in column (4) of the Table in the 6th August 2009 notification to reflect the amended maximum cost allowed as deduction under the Income tax Act. The change follows a recommendation of the National Committee confirming proper execution and is effected by the Central Government under the powers conferred by sub section (1) read with the Explanation to Section 35AC.
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Tax deduction under Section 35AC: eligible project cost increased, expanding allowable deduction for specified old age home.
Amendment under Section 35AC increases the maximum permissible project cost for the Sevalaya old age home project, substituting the earlier cost figure in column (4) of the Table in the 6th August 2009 notification to reflect the amended maximum cost allowed as deduction under the Income tax Act. The change follows a recommendation of the National Committee confirming proper execution and is effected by the Central Government under the powers conferred by sub section (1) read with the Explanation to Section 35AC.
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