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<h1>Jindal Aluminium Ltd. project approved for tax deduction under Section 35AC for building schools in Karnataka villages.</h1> The Central Government, based on the National Committee's recommendations, approves Jindal Aluminium Ltd. as an eligible project under section 35AC of the Income-tax Act, 1961. The approved project involves constructing school buildings in 11 villages across Karnataka, with an estimated cost of Rs. 20.80 lakhs. This notification allows the specified maximum amount as a deduction under section 35AC and is effective for three years, covering the assessment years 1995-96, 1996-97, and 1997-98.