Deduction under Section 35AC: government notifies eligible institutions and projects and sets approved deductible costs. Notification under section 35AC approves specified non-profit institutions and their listed projects as eligible for tax-deduction treatment, records estimated project costs and corpus components where applicable, and specifies the maximum amount of such costs that may be allowed as deduction for prescribed financial year(s), generally over three years commencing 2008-2009 (with a limited subset approved for two years), following recommendation of the National Committee for Promotion of Social and Economic Welfare.