Export markets development allowance incentivises qualifying overseas promotion expenditure; agricultural development allowance incentivises support to cultivators. Two enhanced deduction provisions are inserted: an Export Markets Development Allowance permitting a domestic company or resident person to claim an enhanced deduction for qualifying post-February-1968 expenditure on overseas promotion and market development activities, and an Agricultural Development Allowance permitting companies manufacturing from agricultural raw materials to claim an enhanced deduction for expenditure in supplying specified goods, services or demonstrations to cultivators, with both provisions excluding capital or personal expenses, requiring deduction of any consideration received, and prohibiting duplicate deductions under other Act provisions for the same expenditure.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Export markets development allowance incentivises qualifying overseas promotion expenditure; agricultural development allowance incentivises support to cultivators.
Two enhanced deduction provisions are inserted: an Export Markets Development Allowance permitting a domestic company or resident person to claim an enhanced deduction for qualifying post-February-1968 expenditure on overseas promotion and market development activities, and an Agricultural Development Allowance permitting companies manufacturing from agricultural raw materials to claim an enhanced deduction for expenditure in supplying specified goods, services or demonstrations to cultivators, with both provisions excluding capital or personal expenses, requiring deduction of any consideration received, and prohibiting duplicate deductions under other Act provisions for the same expenditure.
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