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of <h1>Central Government Approves Tax Exemption for Infrastructure, Healthcare, Education, and Rural Welfare Projects u/s 35AC.</h1> The Central Government, under section 35AC of the Income-tax Act, 1961, has approved various institutions and their projects for tax exemption. The approved projects include infrastructure development, healthcare, education, and rural welfare across different states in India. Each project has a specified maximum cost for which it is approved, with some subject to conditions like formal approval from local authorities or providing free services. The notification is valid for different durations for various projects, ranging from one to three years, covering assessment years 1994-95 to 1996-97.
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