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Approval of Eligible Projects or Schemes under Section 35AC of the Income Tax Act, 1961

News and Press Release - Dated:- 19-8-2016 - Section 35AC of the Income Tax Act 1961, inter alia provides for a deduction in computing the business income of an assessee, of the amount paid by him to a Public Sector company or a local authority or to .....

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in respect of any assessment year commencing on or after 1st April, 2018. Accordingly, the benefit of deduction under Section 35AC of the I.T. Act is available only up to previous year ending 31-03-2017 (Assessment Year 2017-18) in respect of the pa .....

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