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of <h1>Govt Approves Tax Exemptions under Section 35AC for Health, Sanitation, and Education Projects in India</h1> The Central Government, based on recommendations from the National Committee, has approved certain institutions under section 35AC of the Income-tax Act, 1961, as eligible for tax exemptions for specified projects. The approved projects include health and sanitation initiatives by a company in Uttar Pradesh, with a cost of Rs. 11.48 lakhs, and the construction of classrooms by another company in Coimbatore, costing Rs. 14 lakhs. The notification is effective for one year for the first project and two years for the second, covering assessment years 1996-97 and 1997-98.
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