Section 35AC exemption: approved institutions and projects with specified deductible project cost ceilings for a limited period. The notification approves specified charitable and social welfare institutions and designates particular projects as eligible for deduction under section 35AC, specifying for each project an estimated cost and the maximum portion of that cost allowable as a deduction. The approvals cover capital and running costs for activities such as medical services, rehabilitation, education, rural infrastructure and community development, and the notification limits its operation to a defined three year assessment period while incorporating later amendments to certain entries.