Notified agricultural extension project u/s 35CCC of Income Tax Act, 1961 – M/s Marico Limited, Mumbai - Safflower Agricultural Extension Project.

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....plication F. No. 203/21/2015-ITA.II received on 15.05.2015 5. Date of commencement of the agricultural extension project Already commenced. However, approval shall be effective from the date of issue of formal Notification u/s 35CCC of the Income Tax Act, 1961 (Act) 6. Duration of the agricultural extension project in months Ongoing project 7. Assessment year(s) for which the agricultural extension project is being notified not exceeding three years) From date of formal issue of Notification till A.Y. 2018-19 8. Total expenses likely to be incurred for the agricultural extension project (other than cost of land or building) For F.Yr's 2015-16 applicant has claimed expenses of ₹ 2,52,49,214/. However, as project is bei....

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....ity shall not get any direct or indirect benefit from the notified agricultural extension project except the deduction of the eligible expenditure in accordance with the provisions of section 35CCC of the Act, rule 6AAD of the I.T. Rules, 1962 and this Notification. The approved entity shall also not name any of their agricultural extension project/activity/scheme on the brand name of any of their products. v. The applicant shall furnish data sheet of farmers who have benefitted from the project to the Ministry of Agriculture. vi. All expenses other than salary expenditure of regular employees of the company and expenditure in the nature of cost of any land or building, as reduced by the amount received from the beneficiary, if any, inc....