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of <h1>Bongaigaon Refinery's Welfare Schemes Approved as Deductible Project Under Section 35AC for 1999-2000 Assessment Year.</h1> The Central Government, under section 35AC of the Income-tax Act, 1961, has approved Bongaigaon Refinery and Petrochemicals Limited as an eligible project. The approved welfare schemes, under special component and tribal sub-plans in the districts of Bongaigaon, Kokrajhar, Goalpara, and Dhubri in Assam, have an estimated cost of Rs. 65 lakhs. This amount is also the maximum deductible under section 35AC. This notification is effective for one year concerning the assessment year 1999-2000.
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