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of <h1>Govt Approves Tax Deductions u/s 35AC for Educational, Healthcare, and Welfare Projects for 2003-2006.</h1> The Central Government, under Section 35AC of the Income-tax Act, 1961, has approved several institutions for tax deductions based on their eligible projects or schemes. The approved projects include a corpus fund, construction and expansion of educational and healthcare facilities, microloan and savings projects, school construction, integrated tribal and rural development projects, and animal welfare initiatives. The specified amounts for these projects range from Rs. 6.00 lakhs to Rs. 45.24 crores, with deductions applicable for assessment years 2003-2004 to 2005-2006. The notification remains in force for two to three years, depending on the project.
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