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of <h1>Government Approves Exemptions for Infrastructure and Welfare Projects u/s 35AC, Income-tax Act, 1961.</h1> The Central Government, based on recommendations from the National Committee, has approved several institutions for exemption under section 35AC of the Income-tax Act, 1961. These approved projects include infrastructure and welfare initiatives such as road construction, hostel building, school and hospital construction, and development programs across various regions in India. The institutions involved are Krishnamurti Foundation, Lupin Human Welfare and Research Foundation, Bhoruka Charitable Trust, Cancer Care Fund Medical College Hospital, and Bharat Sevashram Sangh. The notification is effective for the assessment years 1993-94, 1994-95, and 1995-96.
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