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of <h1>Central Government Approves Agra Charitable Trust for Sports Center Construction u/s 35AC, Valid for Three Years.</h1> The Central Government, following the National Committee's recommendations, approves a specified institution under section 35AC of the Income-tax Act, 1961. The approved institution is a charitable trust located in Agra, tasked with constructing and operating a sports center. The project's estimated cost is Rs. 175.00 lakhs, with a maximum deduction allowance of Rs. 155.00 lakhs, as previously notified. This approval is valid for three years, covering assessment years 1997-98, 1998-99, and 1999-2000.
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