Tax exemption under section 35AC: government approves specified charitable projects and fixes eligible deductions and time-limited applicability. Approval under Section 35AC designates specified institutions and projects as eligible for deduction, listing for each an estimated project cost and the maximum amount allowed as a deduction. The notification sets project specific operative descriptions (health, rural development, education, training, rehabilitation, infrastructure, equipment), includes beneficiary or reservation conditions for certain entries, and prescribes the assessment year periods during which the listed deductible maxima may be claimed.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Tax exemption under section 35AC: government approves specified charitable projects and fixes eligible deductions and time-limited applicability.
Approval under Section 35AC designates specified institutions and projects as eligible for deduction, listing for each an estimated project cost and the maximum amount allowed as a deduction. The notification sets project specific operative descriptions (health, rural development, education, training, rehabilitation, infrastructure, equipment), includes beneficiary or reservation conditions for certain entries, and prescribes the assessment year periods during which the listed deductible maxima may be claimed.
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