Central Government Revises Project Cost Under Section 35AC of Income-tax Act: Rs. 190.32 lakhs to Rs. 270.02 lakhs.
The Central Government has amended Notification No. 267(E) dated 24th March 1994, under the powers granted by section 35AC of the Income-tax Act, 1961. Based on recommendations from the National Committee, changes have been made to the notification published by the Ministry of Finance. Specifically, in the table of the original notification, the projected cost for a particular project listed under serial number 17 has been revised from "Rs. 190.32 lakhs" to "Rs. 270.02 lakhs" in both the estimated cost and the maximum approved cost columns.
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