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of <h1>Sihor Education Foundation's College Project Approved Under Section 35AC for Tax Deduction, Effective 2002-2005</h1> The Central Government, based on recommendations from the National Committee, has approved the Sihor Education Foundation as an eligible project under section 35AC of the Income-tax Act, 1961. This approval pertains to the construction and furnishing of facilities for a college, including an auditorium, hostel, staff quarters, and principal's bungalow, with an estimated cost of Rs. 487.85 lakhs. The maximum deductible amount is Rs. 480.62 lakhs, including a corpus fund of Rs. 145 lakhs. This notification is effective for the assessment years 2002-2003, 2003-2004, and 2004-2005.
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