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of <h1>Finance Ministry Approves Projects u/s 35AC for Tax Deductions, Covering Education, Health, Infrastructure, and Disaster Relief.</h1> The notification, issued by the Ministry of Finance on January 16, 1998, under Section 35AC of the Income-tax Act, 1961, approves various institutions and their projects as recommended by the National Committee. It specifies the eligible projects or schemes, their estimated costs, and the maximum amounts allowed as deductions. The projects range from educational and health initiatives to infrastructure and disaster relief efforts across India. The notification is valid for different durations for specific projects, covering assessment years 1998-99 to 2000-2001, with details on cost adjustments provided in subsequent notifications and corrigenda.
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