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Agriculture extension project deduction

Splendid Tuber (1 Points)

13 April 2021

i am not getting the application of agriculture extension project deduction

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CA. Sourav Sarkar (Chartered Accountant ) (24578 Points)
Replied 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