Exemption u/s 35AC - of the ITA, 1961, the C.G. had specified for various institution as an eligible project or scheme - 004/2006 - Income Tax Act, 1961
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Section 35AC approval of specified charitable projects permits tax deductions for approved institutions for listed schemes. Approval under section 35AC designates specific institutions and their eligible projects, specifying estimated project costs and the maximum amount of such costs allowable as a deduction under section 35AC. The listed amounts apply for the financial years 2005-06, 2006-07 and 2007-08, and the notification remains in force only for that three-year period. Subsequent substitutions noted in the notification amend certain cost figures within the operative Table.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Section 35AC approval of specified charitable projects permits tax deductions for approved institutions for listed schemes.
Approval under section 35AC designates specific institutions and their eligible projects, specifying estimated project costs and the maximum amount of such costs allowable as a deduction under section 35AC. The listed amounts apply for the financial years 2005-06, 2006-07 and 2007-08, and the notification remains in force only for that three-year period. Subsequent substitutions noted in the notification amend certain cost figures within the operative Table.
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