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of <h1>Government Approves Tax Exemptions for Welfare Projects u/s 35AC of Income-tax Act, 1961.</h1> The Central Government, under section 35AC of the Income-tax Act, 1961, has approved various institutions and their projects as eligible for tax exemptions. The notification lists institutions along with their projects, estimated costs, and the maximum deductible amounts. Projects include health camps, school construction, training centers, and welfare activities across multiple states in India. The notification specifies the duration of the tax exemption, which varies for different projects. This approval facilitates tax deductions for contributions towards these projects, promoting public welfare initiatives. The notification is applicable for specific assessment years, primarily 1999-2000 to 2001-2002.
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