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of <h1>Tax Deductions Approved for Rural Medical Clinic and Eye Hospital Projects Under Section 35AC of Income-tax Act, 1961.</h1> The Central Government, under section 35AC of the Income-tax Act, 1961, has approved certain institutions for eligible projects or schemes. Two companies are specified: one is involved in a rural mobile medical clinic project in Bangalore, costing Rs. 6.00 lakhs, and the other in various welfare schemes and the construction of an eye hospital in Assam, costing Rs. 55.00 lakhs. The notification grants tax deductions for these projects, 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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