Tax exemption under section 35AC approves specified charitable projects and caps allowable deductions for three institutions for three assessment years Under section 35AC the Central Government approves specified charitable institutions and their projects as eligible for deduction, specifies estimated project costs and sets the maximum portions of those costs allowable as deductions; the notification lists three institutions with their respective project descriptions and maximum deductible cost amounts and is effective for a three-year period in relation to the designated assessment years.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Tax exemption under section 35AC approves specified charitable projects and caps allowable deductions for three institutions for three assessment years
Under section 35AC the Central Government approves specified charitable institutions and their projects as eligible for deduction, specifies estimated project costs and sets the maximum portions of those costs allowable as deductions; the notification lists three institutions with their respective project descriptions and maximum deductible cost amounts and is effective for a three-year period in relation to the designated assessment years.
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