U/s. 35AC, IT ACT, 1961 - Eligible Projects or Schemes, Expenditure On - Asian Society of Continuing Medical Education, Chennai - S.O.1502(E) - Income Tax

Section 35AC deduction: increased project cost allows a higher allowable deduction, but excludes funds from corporate CSR provisions.

Notification increases the maximum project cost for the Asian Society of Continuing Medical Education, Chennai, as recognised for deduction purposes following the National Committee's recommendation, substituting the earlier notified cost with the revised higher amount; it also specifies that deduction relief does not apply to funds received under corporate social responsibility provisions and associated rules.