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<h1>Government Approves Tax Deduction Projects u/s 35AC for Construction, Healthcare, Education, and Community Development Initiatives.</h1> The Central Government, under section 35AC of the Income-tax Act, 1961, has approved various institutions and their eligible projects for tax deductions. These projects span construction, healthcare, education, and community development across India, with specified costs and deduction limits for the assessment years 2003-2004 to 2005-2006. Notable projects include building constructions, community banking programs, rehabilitation plans, and educational initiatives. The notification remains effective for one year for a specific project and three years for others, as detailed in the table.