Exemption under section 35AC: approved institutions and projects entitled to capped deductions for qualifying public welfare schemes. Approval under section 35AC designates specified institutions and their enumerated projects (healthcare, education, sanitation, eye care, slum upliftment, renewable energy and related infrastructure) as eligible for deduction; the notification pairs each institution with an estimated project cost and the maximum amount allowable as a deduction, notes corpus funds where applicable, and specifies the assessment years for which the approvals apply.