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of <h1>Government Extends Approval and Increases Sanctioned Costs for Projects u/s 35AC of Income Tax Act, 1961.</h1> The Central Government, based on recommendations from the National Committee for Promotion of Social and Economic Welfare, has extended the approval and/or increased the sanctioned costs for various projects under Section 35AC of the Income Tax Act, 1961. The notification includes a list of institutions and projects, detailing the financial years for which the exemptions are extended and any changes in project costs. These projects range from healthcare and education to social welfare initiatives across India. The exemptions do not apply to funds received under the Companies Act's CSR provisions.
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