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of <h1>Income Tax Act Section 35AC Amended: Deduction Cap for Maria Seva Sangha Raised from Rs. 2.30 to 15 Lakhs.</h1> The Central Government has amended Notification No. S.O. 469(E) dated July 2, 1996, under Section 35AC of the Income-tax Act, 1961. The amendment pertains to the organization Maria Seva Sangha in Bangalore. The change involves an increase in the maximum allowable cost deduction under Section 35AC from Rs. 2.30 lakhs to Rs. 15.00 lakhs. This amendment is based on recommendations from the National Committee and is detailed in Notification No. 10321, issued by the Ministry of Finance, Department of Revenue, on March 27, 1997.
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