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of <h1>Government Approves Tax Exemptions for Infrastructure, Healthcare, and Education Projects u/s 35AC of Income-tax Act.</h1> The Central Government, under section 35AC of the Income-tax Act, 1961, has approved various institutions for tax exemptions on eligible projects or schemes. These projects include infrastructure development, healthcare facilities, educational institutions, and community welfare initiatives across different regions of India. The notification specifies the estimated costs and maximum deductible amounts for each project, ranging from rural road construction in Orissa to establishing healthcare facilities in Maharashtra and Tamil Nadu. The exemptions apply for specific assessment years, with durations varying from one to three years depending on the project.
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