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<h1>Government Approves Tax-Deductible Projects u/s 35AC, Covering Education, Healthcare, and Rural Development Initiatives.</h1> The Central Government, based on recommendations from the National Committee for Promotion of Social and Economic Welfare, has approved several institutions under Section 35AC of the Income-tax Act, 1961. These approvals allow specified projects or schemes to receive tax deductions for their costs. The notification lists various institutions, their projects, estimated costs, and the maximum deductible amounts. Projects include hostel accommodations, piggery development, rural development, healthcare initiatives, and more, with funding periods ranging from one to three years, covering financial years 2006-07 to 2008-09. The notification remains effective for specific durations based on project serial numbers.