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of <h1>Govt Approves Tax Deductions for Education, Healthcare, and Welfare Projects u/s 35AC of Income-tax Act.</h1> The Central Government, under Section 35AC of the Income-tax Act, 1961, has approved various institutions and their projects for tax deduction eligibility based on recommendations from the National Committee for Promotion of Social and Economic Welfare. These projects, spanning education, healthcare, and social welfare, are allocated specific funding limits for three financial years starting from 2012-13 to 2014-15. Institutions include educational societies, charitable trusts, and foundations, each with designated projects such as running schools, vocational training, healthcare initiatives, and research on medicinal plants. The notification specifies the maximum deductible amounts for each project.
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