Agricultural extension project deduction requires prior approval, separate audit compliance, and limits on beneficiary charges and project benefits. Expenditure on an agricultural extension project is deductible under section 47(1)(a) if the project is for training, education and guidance of farmers, has prior approval of the Ministry of Agriculture and Farmers Welfare, and satisfies the prescribed expenditure threshold, excluding land or building cost. The notified project must maintain separate books, get them audited, comply with beneficiary charging limits, and avoid any direct or indirect benefit other than the deduction. Annual reporting, approval procedures, renewal, and revocation mechanisms are prescribed, and similar rules continue under section 35CCC for the earlier regime.
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Agricultural extension project deduction requires prior approval, separate audit compliance, and limits on beneficiary charges and project benefits.
Expenditure on an agricultural extension project is deductible under section 47(1)(a) if the project is for training, education and guidance of farmers, has prior approval of the Ministry of Agriculture and Farmers Welfare, and satisfies the prescribed expenditure threshold, excluding land or building cost. The notified project must maintain separate books, get them audited, comply with beneficiary charging limits, and avoid any direct or indirect benefit other than the deduction. Annual reporting, approval procedures, renewal, and revocation mechanisms are prescribed, and similar rules continue under section 35CCC for the earlier regime.
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