Exemption under section 35AC approves specified projects for deduction, listing eligible institutions and capped costs. Approval is granted for specified institutions to implement listed projects or schemes that qualify for deduction under the Income-tax Act's exemption provision; each Table entry specifies the eligible activities, an estimated project cost and the maximum portion of that cost allowable as a deduction. The Table includes identifiable companies with rural and social development projects and sets prescribed ceilings on deductible cost, and the notification remains in force for a limited set of assessment years.