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MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 6th May, 2021 FORM NO. 3CP S.O. 1766(E).The Central Board of Direct Taxes, in exercise of its powers under section 35CCC of the Income-tax Act,1961 (43 of 1961) read with Rules 6AAD and
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FAQ :
The CBDT has notified amendments to the agricultural extension project rules, specifying assessment years and expenditure limits.
These amendments were made under Section 35CCC of the Income-tax Act, 1961.
The agricultural extension projects are notified from 16.02.2015 up to Assessment Year 2017-18.
The sanctioned expenditure for the agricultural extension projects is Rs. 2,07,00,000 for each Assessment Year from 2015-16 to 2017-18.
Yes, the cost of land or building is excluded from the total expenses likely to be incurred for the agricultural extension project.
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