Deduction under section 35AC: government approves a company's specified welfare project for a time-limited tax deduction. Approval under Section 35AC authorizes a specified company's welfare scheme as an eligible project, fixes an estimated project cost and prescribes the maximum portion of that cost allowable as a deduction; the authorization is time-limited to one year for the assessment year specified and is issued by the Central Government on the National Committee's recommendation.
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.
Deduction under section 35AC: government approves a company's specified welfare project for a time-limited tax deduction.
Approval under Section 35AC authorizes a specified company's welfare scheme as an eligible project, fixes an estimated project cost and prescribes the maximum portion of that cost allowable as a deduction; the authorization is time-limited to one year for the assessment year specified and is issued by the Central Government on the National Committee's recommendation.
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