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of <h1>Govt Approves Tax-Exempt Projects u/s 35AC for 2008-11: Schools, Medical Care, Water Initiatives, and More.</h1> The Central Government, under section 35AC of the Income-tax Act, 1961, has approved various institutions and their projects for tax exemption. These projects, recommended by the National Committee for Promotion of Social and Economic Welfare, include community rehabilitation, school construction, medical care, and water projects, among others. The notification specifies the estimated costs and maximum allowable deductions for these projects for the financial years 2008-09 to 2010-11. The notification covers numerous institutions across India, detailing their respective projects and the financial support allocated for each.
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