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of <h1>Central Govt Approves 19 Institutions for Tax-Deductible Projects u/s 35AC, Targeting Social and Economic Welfare.</h1> The Central Government, under section 35AC of the Income-tax Act, 1961, has approved various institutions for eligible projects or schemes, allowing specified cost deductions. These projects span diverse areas such as watershed management, rural drinking water supply, adult education, healthcare, and community development. The notification lists 19 institutions with projects costing from Rs. 39 lakh to Rs. 100 crore, covering financial years 2006-2007 to 2008-2009. The approval period varies, with some projects approved for one year and others for up to three years. This initiative aims to promote social and economic welfare through tax-exempted contributions.
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