Section 35AC deduction extended for Karuna Trust health scheme with increased project ceiling; CSR funds excluded. The Central Government extends notification of the Karuna Trust scheme as an eligible project for deduction under Section 35AC for a further three-year period beginning with financial year 2016-17 and amends the sanctioned maximum project cost by increasing the approved project ceiling including a specified corpus fund. The National Committee recommended the extension as the project is being properly executed. The exemption under Section 35AC is explicitly not applicable to funds received under Schedule VII of the Companies Act and the Companies (CSR) Rules, 2014.