Save Rs 499 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Agriculture extension project deduction

176 views

Save Share

Join Us Follow Us Add as Source

Splendid Tuber

1 Points Posted on 13 April 2021

i am not getting the application of agriculture extension project deduction

Replies (2)

Quick Summary

This discussion clarifies the agriculture extension project deduction available under Section 35CCC of the Income Tax Act. It highlights that 100% of eligible expenditure incurred towards notified agricultural extension projects can be claimed as a deduction. The relevant approval guidelines are found in Rule 6AAD and the conditions in Rule 6AAE of the Income Tax Rules.

CA. Sourav Sarkar

Chartered Accountant

24588 Points Posted on 13 April 2021

Expenditure incurred towards notified agricultural extension project is allowed as a deduction under section 35CCC of the Income Tax Act. Notably, the guidelines for approval of such agricultural extension project is covered under rule 6AAD of the Income Tax Rules, whereas, the conditions are prescribed under rule 6AAE.

100% of the eligible expenditure shall be allowed for deduction u/s 35CCC