National Bank for Agriculture and Rural Development established under section 3 of the National Bank for Agriculture and Rural Development Act, 1981 approved for the purpose of section 36(1)(xii) - 25/2014 - Income Tax

Deductibility under section 36(1)(xii): NABARD's expenditures qualify for deduction subject to specified non capitality and accounting conditions.

Notification designates NABARD as eligible for deduction under section 36(1)(xii) of the Income tax Act, subject to conditions: expenditure must be for objects authorised by the NABARD Act (per its section 38), must not be capital expenditure, must not be deductible under any other provision, and a separate account must be maintained for such expenditure.