Approved social welfare projects receive specified tax deductions under section 35AC for listed institutions over fixed financial years. The Central Government, on the National Committee's recommendation, notifies specified institutions and approves particular social and economic welfare projects, setting estimated project costs and the maximum amounts allowable as deductions under Section 35AC of the Income-tax Act. Each approved entry lists the project description, cost (including any corpus fund where applicable) and the exact monetary cap eligible for deduction, with the approval tied to specified financial-year periods (one, two or three years as stated).
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Approved social welfare projects receive specified tax deductions under section 35AC for listed institutions over fixed financial years.
The Central Government, on the National Committee's recommendation, notifies specified institutions and approves particular social and economic welfare projects, setting estimated project costs and the maximum amounts allowable as deductions under Section 35AC of the Income-tax Act. Each approved entry lists the project description, cost (including any corpus fund where applicable) and the exact monetary cap eligible for deduction, with the approval tied to specified financial-year periods (one, two or three years as stated).
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