Income Tax Act Section 35AC: Approval Period Extended for Projects by Approved Institutions Until 2016-17.
The notification under Section 35AC of the Income Tax Act, 1961, issued by the Ministry of Finance, extends the approval period for various projects and schemes by institutions approved by the National Committee for Promotion of Social and Economic Welfare. The notification lists numerous institutions with their respective projects, detailing the approved financial costs and extended periods of approval, typically until the financial year 2016-17. Some projects also have enhanced sanctioned costs. The notification clarifies that no exemptions apply for certain lapsed financial years and excludes funds under Schedule VII of the Companies Act and CSR Rules 2014 from exemptions.
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Income Tax Act Section 35AC: Approval Period Extended for Projects by Approved Institutions Until 2016-17.
The notification under Section 35AC of the Income Tax Act, 1961, issued by the Ministry of Finance, extends the approval period for various projects and schemes by institutions approved by the National Committee for Promotion of Social and Economic Welfare. The notification lists numerous institutions with their respective projects, detailing the approved financial costs and extended periods of approval, typically until the financial year 2016-17. Some projects also have enhanced sanctioned costs. The notification clarifies that no exemptions apply for certain lapsed financial years and excludes funds under Schedule VII of the Companies Act and CSR Rules 2014 from exemptions.
Income Tax Act Section 35AC: Approval Period Extended for Projects by Approved Institutions Until 2016-17.
The notification under Section 35AC of the Income Tax Act, 1961, issued by the Ministry of Finance, extends the approval period for various projects and schemes by institutions approved by the National Committee for Promotion of Social and Economic Welfare. The notification lists numerous institutions with their respective projects, detailing the approved financial costs and extended periods of approval, typically until the financial year 2016-17. Some projects also have enhanced sanctioned costs. The notification clarifies that no exemptions apply for certain lapsed financial years and excludes funds under Schedule VII of the Companies Act and CSR Rules 2014 from exemptions.
Full Summary is availble for active users!
Note: It is a system-generated summary and is for quick
reference only.