Deduction under section 35CCC enables notified agricultural extension projects to claim expenditure deduction subject to audit and compliance conditions. Notification approves M/s DCM Shriram Consolidated Limited's agricultural extension project for sugarcane productivity and ties entitlement to a statutory deduction to the date of formal notification. Eligible deduction covers expenses (excluding land or building) incurred wholly and exclusively for the project, reduced by amounts received from beneficiaries and excluding reimbursed expenditures. Compliance requirements include separate project accounts, annual audit with auditor commentary, submission of audited statements and a project note by return due date, and certification of genuineness by the Ministry of Agriculture; approval may be withdrawn for non-genuine or non-compliant activities.