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of <h1>Central Govt Approves Tax Deductions for Projects in Madhya Pradesh, Maharashtra, and Orissa u/s 35AC of Income-tax Act.</h1> The Central Government, based on recommendations from the National Committee, has approved specific companies under section 35AC of the Income-tax Act, 1961. The approved projects include an environmental improvement initiative by a company in Madhya Pradesh and Maharashtra, with a total cost of Rs. 1460.00 lakhs, allowing a deduction of Rs. 105.00 lakhs. Another project involves infrastructure and community development by a company in Orissa, costing Rs. 40.00 lakhs, with the full amount eligible for deduction. This notification is effective for three years, covering assessment years 2000-2001, 2001-2002, and 2002-2003.
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