Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 1961 - Eligible projects or schemes, expenditure on - Jamiah Uloomul Quran, Gujarat - F.No.V-27015/1/2012-SO - Income Tax

Deduction for eligible projects renewed; project eligibility extended and maximum allowable project cost increased.

The Central Government, under the deduction provision read with Explanation (b), re-notifies Jamiah Uloomul Quran's 'Reconstruction in place of depleted building' as an eligible project for a further three years commencing with financial year 2012-13, following a recommendation that the project is being properly executed. The notification also amends the earlier notification by substituting the previously stated maximum allowable project cost with a revised higher amount for deduction purposes.