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of <h1>Section 35CCD: Companies can claim 1.5x deduction for Board-notified skill development project expenses (limited to actual from AY 2021)</h1> A company that incurs expenditure (other than on land or buildings) on a Board-notified skill development project carried out in accordance with prescribed guidelines may claim a deduction equal to one and one-half times that expenditure; for assessment years beginning on or after 1 April 2021 the deduction is limited to the actual expenditure. Once a deduction under this section is claimed and allowed for any assessment year in respect of such expenditure, no deduction for the same expenditure is permitted under any other provision of the Act for the same or any other assessment year.
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