Section 35CCC of the Income Tax Act, 1961 allows a deduction of 150% of the expenditure incurred on agricultural extension projects. This deduction is available for assessment years 2013-14 onwards.

The agricultural extension project must be notified by the Central Board of Direct Taxes (CBDT) in accordance with the guidelines prescribed. The project must be for the training, education, and guidance of farmers. The expenditure incurred on the project must not be in the nature of the cost of land or building under Income Tax Act:.

The deduction under section 35CCC under Income Tax Act: is available to all assesses, including individuals, HUFs, companies, and trusts. However, the deduction is limited to the amount of expenditure incurred on the project.

Here are the key points to remember about the deduction under section 35CCC under Income Tax Act::

• The deduction is available for assessment years 2013-14 onwards.
• The project must be notified by the CBDT.
• The project must be for the training, education, and guidance of farmers.
• The expenditure incurred on the project must not be in the nature of the cost of land or building.
• The deduction is available to all assesses.
• The deduction is limited to the amount of expenditure incurred on the project.

To claim the deduction under section 35CCC under Income Tax Act: the assesses must submit an application in Form No. 3C-O to the Member (IT), CBDT. The application must be accompanied by the following documents:

• A copy of the notification issued by the CBDT approving the project.
• A detailed project reports.
• Evidence of expenditure incurred on the project.

The deduction under section 35CCC under Income Tax Act: is a valuable incentive for companies and individuals to invest in agricultural extension projects. These projects help to improve the productivity of farmers and to increase agricultural production.

EXAMPLES

Section 35CCC of the Income Tax Act, 1961 allows a deduction of expenditure incurred on agriculture extension project in specific states in India. The deduction is available for the assessment year 2013-14 onwards.

The following are some examples of expenditure that is eligible for deduction under section 35CCC under Income Tax Act:

• Expenditure on training of farmers and agricultural labourer under Income tax act Expenditure on providing improved seeds, fertilizers, and pesticides to farmers
• Expenditure on setting up demonstration farms and model villages under Income Tax Act:
• Expenditure on providing irrigation facilities to farmers under Income Tax Act:
• Expenditure on construction of roads, bridges, and culverts in rural areas under Income Tax Act:
• Expenditure on forestation and soil conservation under Income Tax Act:

The deduction is available to companies, trusts, and individuals who incur expenditure on agriculture extension projects in the following states:

• Andhra Pradesh
• Assam
• Bihar
• Chhattisgarh
• Gujarat
• Haryana
• Himachal Pradesh
• Jharkhand
• Karnataka
• Kerala
• Madhya Pradesh
• Maharashtra
• Manipur
• Meghalaya
• Mizoram
• Nagaland
• Odisha
• Punjab
• Rajasthan
• Sikkim
• Tamil Nadu
• Telangana
• Tripura
• Uttar Pradesh
• Uttarakhand
• West Bengal

The deduction is limited to 100% of the expenditure incurred. However, the deduction is available only if the expenditure is incurred for the purpose of agricultural extension and not for any other purpose.

The deduction under section 35CCC under Income Tax Act: is a great way to encourage investment in agriculture extension projects. These projects help to improve the productivity of agriculture and make it more sustainable. They also help to create jobs in rural areas.

FAQ QUESTIONS

1. What is the expenditure on agriculture extension project section 35CCC under Income Tax Act:?

The expenditure on agriculture extension project section 35CCC under Income Tax Act: is an additional deduction that is available to companies for expenditure incurred on approved agriculture extension projects. These projects aim to improve the productivity of agriculture, increase farmers’ income, and reduce post-harvest losses.

2. When is the expenditure on agriculture extension project section 35CCC under Income Tax Act: applicable?

The expenditure on agriculture extension project section 35CCC under Income Tax Act: is applicable for assessment years 2013-14 onwards.

3. What are the benefits of claiming the expenditure on agriculture extension project section 35CCC under Income Tax Act:?

The benefits of claiming the expenditure on agriculture extension project section 35CCC under Income Tax Act: are:

* The deduction is available in addition to the normal deduction allowed for business expenditure.

* The deduction can be claimed up to a maximum of 100% of the expenditure incurred.

* The deduction is available for a period of five ears, starting from the year in which the expenditure is incurred.

4. How do I claim the expenditure on agriculture extension project section 35CCC under Income Tax Act:?

To claim the expenditure on agriculture extension project section 35CCC under Income Tax Act:, you need to submit the following documents to the Income Tax Department:

* A copy of the receipt for the expenditure incurred.

* A certificate from the implementing agency, confirming that the project is approved under section 35CCC under Income Tax Act:.

* A statement of the benefits that have accrued from the project.

5. What are the documentation requirements for claiming the expenditure on agriculture extension project section 35CCC under Income Tax Act:?

The following documents are required to claim the expenditure on agriculture extension project section 35CCC under Income Tax Act::

* PAN card of the taxpayer.

* Income Tax Returns for the relevant assessment years.

* Proof of expenditure incurred, such as receipts, invoices, etc.

* Certificate from the implementing agency, confirming that the project is approved under section 35CCC under Income Tax Act:

* Statement of the benefits that have accrued from the project.

CASE LAWS

There are no reported case laws on the expenditure on agricultural extension project under section 35CCC of the Income Tax Act, 1961 (the Act) for the assessment year 2013-14. However, there are a few guidelines and notifications issued by the government that provide some insights on the interpretation of this section.

• Guidelines for approval of agricultural extension project under section 35CCC under Income Tax Act: under Income Tax Act: issued by the Central Board of Direct Taxes (CBDT) in 2013 state that an agricultural extension project is one that provides training, education, and guidance to farmers on agricultural practices, technologies, and other matters related to agriculture. The project must be notified by the CBDT before it can be eligible for the deduction under section 35CCC under Income Tax Act:.
• Notification No. 1236(E) dated 30.05.2013 issued by the Ministry of Agriculture notified a list of agricultural extension projects that are eligible for the deduction under section 35CCC under Income Tax Act:. These projects include training and education programs for farmers, establishment of agricultural extension center, and development of agricultural technologies.

Based on these guidelines and notifications, it can be inferred that the expenditure on agricultural extension project under section 35CCC under Income Tax Act: is allowed for the assessment year 2013-14 if the following conditions are met:

• The project is notified by the CBDT under Income Tax Act.
• The project provides training, education, or guidance to farmers on agricultural practices, technologies, or other matters related to agriculture under Income Tax Act:
• The expenditure is incurred on the activities of the project, such as salaries of trainers, cost of training materials, and travel expenses of farmers under Income Tax Act:

It is important to note that the deduction under section 35CCC under Income Tax Act: is a one-time deduction and cannot be claimed for subsequent assessment years. The deduction is also subject to the overall ceiling of 100% of the profits of the assesses.