Agricultural extension deduction under section 35CCC approved; project subject to audit, reporting and non benefit conditions. Notification approves the Rallis Kisan Kutumba agricultural extension project for deduction under section 35CCC until A.Y. 2016 17, subject to conditions: separate books and audit with specified auditor comments; eligible deduction limited to expenses (excluding land/building) wholly and exclusively for the project and reduced by any beneficiary receipts; prohibition on beneficiary charges and on direct or indirect benefit to the entity except the deduction; reporting to tax authorities with audited accounts, project note and Ministry of Agriculture certificate; and potential withdrawal of approval for cessation, non genuineness or non compliance.
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Agricultural extension deduction under section 35CCC approved; project subject to audit, reporting and non benefit conditions.
Notification approves the Rallis Kisan Kutumba agricultural extension project for deduction under section 35CCC until A.Y. 2016 17, subject to conditions: separate books and audit with specified auditor comments; eligible deduction limited to expenses (excluding land/building) wholly and exclusively for the project and reduced by any beneficiary receipts; prohibition on beneficiary charges and on direct or indirect benefit to the entity except the deduction; reporting to tax authorities with audited accounts, project note and Ministry of Agriculture certificate; and potential withdrawal of approval for cessation, non genuineness or non compliance.
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