Section 35AC deduction: project cost increased and Schedule VII CSR contributions are excluded from the exemption. The notification amends the original project notification to substitute the previously notified maximum project cost with an enhanced sanctioned amount for the hospital project carried out by the specified trust, thereby increasing the allowable cost for deduction under the income tax provision; it also specifies that the exemption will not apply to funds received under Schedule VII of the Companies Act and the Companies CSR rules.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Section 35AC deduction: project cost increased and Schedule VII CSR contributions are excluded from the exemption.
The notification amends the original project notification to substitute the previously notified maximum project cost with an enhanced sanctioned amount for the hospital project carried out by the specified trust, thereby increasing the allowable cost for deduction under the income tax provision; it also specifies that the exemption will not apply to funds received under Schedule VII of the Companies Act and the Companies CSR rules.
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