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of <h1>Maruti Udyog's Social Project Approved for Tax Deduction under Section 35AC; Valid Until 2002</h1> The Central Government, under section 35AC of the Income-tax Act, 1961, approves Maruti Udyog Limited's social development project in Gurgaon, Haryana, as an eligible scheme. The project, involving work in the villages of Mulahera, Dundahera, and Sirhoul, is estimated to cost Rs. 64.20 lakhs. This amount is also the maximum deductible cost under section 35AC. The approval is valid for three years, covering the assessment years 1999-2000, 2000-2001, and 2001-2002.
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