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of <h1>Government Approves Tax Deduction for Educational, Healthcare, and Rural Projects u/s 35AC of Income-tax Act.</h1> The Central Government, under section 35AC of the Income-tax Act, 1961, approves various institutions for eligible projects or schemes, allowing deductions for specified costs. The approved projects include educational, healthcare, and rural development initiatives across different states in India, with estimated costs and maximum deductible amounts outlined for each. These projects range from running schools for deaf children and rural development to expanding hospitals and providing free cancer treatment. This notification is effective for the assessment years 1999-2000, 2000-2001, and 2001-2002, with amendments noted in subsequent years.
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