Notification No. 48/2021 [F.No. 203/30/2014-ITA.II]/ SO 1766(E)

Last updated: 12 May 2021

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The Central Board of Direct Taxes (CBDT) has issued Notification No. 48/2021, which modifies previous Notification No. 15/2015. These changes specifically update details concerning agricultural extension projects under Section 35CCC of the Income-tax Act. The modifications clarify the assessment years for which these projects are notified, extending up to AY 2017-18, and specify the sanctioned expenditure for these projects for the years 2015-16, 2016-17, and 2017-18.

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 6AAE of the Income-tax Rules,1962 and in partial modification of the Notification No. 15/2015 dated 16.02.2015, issued vide F.No. 203/30/2014-ITA.II, hereby specifies that Sl.No.7 and Sl.No.8 of said

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1999

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3499

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4999

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FAQ :

Notification No. 48/2021 modifies Notification No. 15/2015 concerning agricultural extension projects under Section 35CCC of the Income-tax Act.

The notification modifies the assessment years for which agricultural extension projects are notified and the total expenses likely to be incurred for these projects.

The agricultural extension project is notified from the date of formal issue of Notification No. 15/2015 (16.02.2015) up to Assessment Year 2017-18.

The sanctioned expenditures are Rs. 2,07,00,000 for AY 2015-16, Rs. 2,07,00,000 for AY 2016-17, and Rs. 2,07,00,000 for AY 2017-18.

The sanctioned expenditure for AY 2015-16 is allowed with effect from 16.02.2015, as the project received approval from a subsequent date in FY 2014-15.

Notification No : 48/2021
Source : https://www.incometaxindia.gov.in/communications/notification/notification_48_2021.pdf

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