Tax exemption under section 35AC extended for an eligible maintenance project, excluding CSR-sourced funds from benefit. The project 'Maintenance of present activities' by Haroa Al-Jamiatul Islamia Darul Uloom Kalikapur is notified as an eligible project for tax exemption under section 35AC for three additional financial years commencing 2016-17, with no change to the approved project cost; the exemption expressly excludes funds received under Schedule VII of section 135 of the Companies Act and the Companies (CSR) Rules, 2014, and is based on the National Committee's recommendation under the Income-tax Rules.
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Tax exemption under section 35AC extended for an eligible maintenance project, excluding CSR-sourced funds from benefit.
The project "Maintenance of present activities" by Haroa Al-Jamiatul Islamia Darul Uloom Kalikapur is notified as an eligible project for tax exemption under section 35AC for three additional financial years commencing 2016-17, with no change to the approved project cost; the exemption expressly excludes funds received under Schedule VII of section 135 of the Companies Act and the Companies (CSR) Rules, 2014, and is based on the National Committee's recommendation under the Income-tax Rules.
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