Exemption under section 35AC: specified institutions and projects approved for deductible project costs subject to conditions. The notification approves specified institutions and their projects as eligible for deduction under Section 35AC, listing each institution, the eligible project or scheme, estimated cost and the maximum deductible amount, and tying approvals to specified assessment years. One approval is subject to conditions including a free-supply obligation for economically weaker sections, maintenance of separate accounts for project receipts and expenses including corpus income, restrictions on use of corpus funds, and prior approval for share transfers.