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of <h1>Government Approves Tax Deductions for Various Projects u/s 35AC of Income-tax Act 1961.</h1> The Central Government, under section 35AC of the Income-tax Act, 1961, has approved several institutions and their respective projects as eligible for tax deductions. The notification lists various institutions, detailing the projects or schemes they are involved in, the estimated costs, and the maximum amount eligible for deduction. These projects include construction, equipment, and running of facilities such as research centers, hospitals, welfare projects, and more across different states in India. The notification is valid for specific assessment years, ranging from 1996-97 to 1998-99, depending on the project.
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