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

Section 35AC deduction extended for an eligible corpus fund project and the allowable project cost increased for tax deduction purposes.

The Central Government, acting under section 35AC and the Explanation thereto, notifies a further three-year extension of the eligible project 'Building a general corpus fund for Helpage India's work' following the National Committee's recommendation, and amends the original notification to increase the maximum allowable corpus fund for deduction purposes by substituting the previously notified corpus fund amount with a higher corpus fund amount.