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of <h1>Government Approves Projects Under Section 35AC for Tax Deductions: Focus on Health, Education, and Rural Development</h1> The Central Government, under section 35AC of the Income-tax Act, 1961, has approved various institutions for eligible projects or schemes based on recommendations from the National Committee. The notification lists ten institutions with their respective projects, estimated costs, and the maximum allowable deduction amounts. Projects include rural development, health services, vocational education, and community development initiatives across India. The notification specifies the duration of approval for each project, ranging from one to three years, applicable to different assessment years between 1995-96 and 1998-99.
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