To Promote Skill Development Direct Taxes Incentives Given; Guidelines for Weighted Deduction @ 150% of the Expenditure Incurred on skill Development Under Section 35ccd of the Income-Tax Act, 1961 Issued

To Promote Skill Development Direct Taxes Incentives Given; Guidelines for Weighted Deduction @ 150% of the Expenditure Incurred on skill Development Under Section 35ccd of the Income-Tax Act, 1961 Issued https://www.taxtmi.com/news?id=11401 A weighted deduction is available for companies in manufacturing and specified services for qualifying expenditure on notified skill development projects carried out in separate training facilities affiliated to NCVT/SCVT or government institutes. Projects require NSDA scrutiny and CBDT notification. Qualifying expenses exclude land or building costs and reimbursed amounts. Companies must maintain separate audited project accounts. Training must be for potential or newly recruited employees; training of existing employees is ineligible if it begins later than six months after recruitment. en-us Thu, 18 Jul 2013 18:19:43 +0530 Thu, 18 Jul 2013 18:19:43 +0530 TaxTMI RSS Generator To Promote Skill Development Direct Taxes Incentives Given; Guidelines for Weighted Deduction @ 150% of the Expenditure Incurred on skill Development Under Section 35ccd of the Income-Tax Act, 1961 Issued https://www.taxtmi.com/news?id=11401 A weighted deduction is available for companies in manufacturing and specified services for qualifying expenditure on notified skill development projects carried out in separate training facilities affiliated to NCVT/SCVT or government institutes. Projects require NSDA scrutiny and CBDT notification. Qualifying expenses exclude land or building costs and reimbursed amounts. Companies must maintain separate audited project accounts. Training must be for potential or newly recruited employees; training of existing employees is ineligible if it begins later than six months after recruitment. News - Thu, 18 Jul 2013 18:19:43 +0530 https://www.taxtmi.com/news?id=11401