Govt Raises Tax Deduction Limit for Animal Hospitals Project by People for Animals to Rs. 14.90 Crore Under Section 35AC.
The Central Government has amended Notification No. S.O. 60(E), dated January 22, 2003, concerning the project by People for Animals, New Delhi, under Section 35AC of the Income-tax Act, 1961. The project involves maintaining animal hospitals or shelters and related activities. Initially recognized as an eligible project for tax deductions, its cost limit has been revised from Rs. 4.90 crore to Rs. 14.90 crore, following recommendations by the National Committee for Promotion of Social and Economic Welfare. This amendment extends the project's financial scope, allowing for increased deductions under the specified section.
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