Guidelines for Weighted Deduction @ 150% of the Expenditure Incurred on skill Development Under Section 35ccd of the Income-Tax Act, 1961

Guidelines for Weighted Deduction @ 150% of the Expenditure Incurred on skill Development Under Section 35ccd of the Income-Tax Act, 1961 https://www.taxtmi.com/circulars?id=52313 A statutory incentive permits a weighted deduction of 150% of qualifying expenditure on notified skill development projects for computation of business income. Eligibility is confined to manufacturers (excluding alcoholic spirits and tobacco) and specified service providers; projects must be in separate training facilities affiliated to recognised vocational training authorities. A nodal agency will scrutinize applications and recommend projects for notification. Only expenses wholly and exclusively for the notified project, excluding land or building costs and reimbursable amounts, qualify; separate audited books for the project are required. en-us Thu, 18 Jul 2013 00:00:00 +0530 Fri, 19 Jul 2013 09:50:00 +0530 TaxTMI RSS Generator Guidelines for Weighted Deduction @ 150% of the Expenditure Incurred on skill Development Under Section 35ccd of the Income-Tax Act, 1961 https://www.taxtmi.com/circulars?id=52313 A statutory incentive permits a weighted deduction of 150% of qualifying expenditure on notified skill development projects for computation of business income. Eligibility is confined to manufacturers (excluding alcoholic spirits and tobacco) and specified service providers; projects must be in separate training facilities affiliated to recognised vocational training authorities. A nodal agency will scrutinize applications and recommend projects for notification. Only expenses wholly and exclusively for the notified project, excluding land or building costs and reimbursable amounts, qualify; separate audited books for the project are required. Circulars Income Tax Thu, 18 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/circulars?id=52313