Section 35AC deduction: approval of specified charitable projects for deduction over a three year approval period; CSR funds excluded. Central Government notification authorises specified non profit institutions, on the National Committee's recommendation, as eligible for income tax deduction treatment for donations to their listed projects; for each entry the Table specifies the eligible project or scheme, the project's estimated cost and the maximum amount of that cost that may be allowed as a deduction. Approvals are time limited to a consecutive three year approval period, and contributions governed by the corporate social responsibility statutory schedule are expressly excluded from the deduction.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Section 35AC deduction: approval of specified charitable projects for deduction over a three year approval period; CSR funds excluded.
Central Government notification authorises specified non profit institutions, on the National Committee's recommendation, as eligible for income tax deduction treatment for donations to their listed projects; for each entry the Table specifies the eligible project or scheme, the project's estimated cost and the maximum amount of that cost that may be allowed as a deduction. Approvals are time limited to a consecutive three year approval period, and contributions governed by the corporate social responsibility statutory schedule are expressly excluded from the deduction.
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