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of <h1>Ministry of Finance Approves Tax Deductions for Infrastructure, Healthcare, and Education Projects u/s 35AC of Income-tax Act.</h1> The notification under Section 35AC of the Income-tax Act, 1961, issued by the Ministry of Finance, approves various institutions and their projects for tax deduction eligibility. The projects range from infrastructure development, such as road construction and housing, to healthcare, education, and welfare initiatives across India. Each project is assigned a maximum deductible amount, and the notification specifies the duration for which these deductions apply, varying from one to three years depending on the project. This approval facilitates financial support for the projects by allowing deductions on their costs.
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