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    <title>Exemption u/s 35AC - Central Govt. approved various Institutions as an eligible project or scheme</title>
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    <description>The Central Government, under section 35AC, approves specified institutions and designates eligible projects or schemes for each, prescribing the maximum project cost allowable as a deduction and fixing the assessment years for which the approval applies. Certain approvals are subject to compliance conditions such as maintaining beneficiary records, ensuring access for economically weaker sections, and filing Chartered Accountant certification that prescribed beneficiary proportions received free benefits. Claimants must restrict claims to the eligible project descriptions, respect the maximum deductible limits, and meet the procedural certification and recordkeeping requirements within the notified time periods.</description>
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      <description>The Central Government, under section 35AC, approves specified institutions and designates eligible projects or schemes for each, prescribing the maximum project cost allowable as a deduction and fixing the assessment years for which the approval applies. Certain approvals are subject to compliance conditions such as maintaining beneficiary records, ensuring access for economically weaker sections, and filing Chartered Accountant certification that prescribed beneficiary proportions received free benefits. Claimants must restrict claims to the eligible project descriptions, respect the maximum deductible limits, and meet the procedural certification and recordkeeping requirements within the notified time periods.</description>
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      <pubDate>Mon, 29 Sep 2003 00:00:00 +0530</pubDate>
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