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of <h1>Govt Approves Tax Deductions for Community Projects: Free Cancer Treatment, Road Construction, and More u/s 35AC.</h1> The Central Government, under section 35AC of the Income-tax Act, 1961, has approved several institutions for eligible projects or schemes, allowing specified amounts as tax deductions. These projects include free cancer treatment in Gujarat, equipment purchases for medical foundations in Chennai and Mumbai, construction of a village road in Bihar, watershed development activities in Maharashtra, and several other community-focused initiatives. The notification is valid for three years, covering assessment years 2001-2002 to 2003-2004. The total costs and maximum allowable deductions for each project are detailed in the notification.
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