Deduction under section 35AC: Government notifies approved projects eligible for tax deduction across a three year approval period. Central Government notifies specific institutions and approves their projects as eligible for deduction under section 35AC, listing twenty five named charitable and social welfare projects with specified estimated costs and maximum deductible amounts; the approvals are limited to three financial years commencing with 2011 2012 and some approved costs include corpus funds within their deductible ceilings.