Exemption under section 35AC: specified institutions' projects approved and maximum project costs permitted as tax deductions. The Central Government, under section 35AC, approves specified institutions and designates particular projects or schemes as eligible, stating estimated project costs and the maximum portion of those costs allowable as a deduction. The notification lists institutions with project descriptions and deductible cost ceilings and prescribes the assessment year periods (two or three years as specified for particular serial numbers) during which those projects may qualify for the section 35AC deduction.
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.
Exemption under section 35AC: specified institutions' projects approved and maximum project costs permitted as tax deductions.
The Central Government, under section 35AC, approves specified institutions and designates particular projects or schemes as eligible, stating estimated project costs and the maximum portion of those costs allowable as a deduction. The notification lists institutions with project descriptions and deductible cost ceilings and prescribes the assessment year periods (two or three years as specified for particular serial numbers) during which those projects may qualify for the section 35AC deduction.
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