Deduction under section 35AC: approved institutions and specified projects eligible for deduction across designated assessment years. The Central Government, on National Committee recommendations, approves sixteen institutions under the Explanation to section 35AC and specifies for each the eligible project or scheme, the nature of activities (construction, equipment, welfare and programme running, endowment funds, rehabilitation) and the maximum amount of project cost admissible as a deduction. The notification also sets the assessment year applicability for each entry (one year for serial 7; three years for serials 1-6 and 8-16) and records a later substitutional amendment to earlier aggregate cost figures.