Deduction limit under section 35AC increased for Friendship Foundation Trust, raising the permitted project cost for tax deduction. On the National Committee's recommendation, the Central Government amends the prior notification under Section 35AC to substitute a higher maximum amount of cost allowable as deduction for Friendship Foundation Trust, Ahmedabad, thereby increasing the ceiling of project cost eligible for deduction under the Income Tax Act.
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Deduction limit under section 35AC increased for Friendship Foundation Trust, raising the permitted project cost for tax deduction.
On the National Committee's recommendation, the Central Government amends the prior notification under Section 35AC to substitute a higher maximum amount of cost allowable as deduction for Friendship Foundation Trust, Ahmedabad, thereby increasing the ceiling of project cost eligible for deduction under the Income Tax Act.
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