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of <h1>Govt Approves Natco Pharma's Road Project for Tax Deduction Under Sec 35AC, Effective for 1997-98 Assessment Year.</h1> The Central Government, based on the recommendations of the National Committee, has approved Natco Pharma Limited as an eligible project under section 35AC of the Income-tax Act, 1961. The approved project involves the construction of a road from Munipalle to Brahmana Kodur in Andhra Pradesh, with an estimated cost of Rs. 15 lakhs. The maximum amount allowed as a deduction under section 35AC is Rs. 5 lakhs. This notification is effective for one year concerning the assessment year 1997-98.
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