TaxTMI 
TaxTMI 
Notified agricultural extension project u/s 35CCC of Income Tax Act, 1961 – Avanti Aqua Culture Training and Development Centre
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....; To educate them on good pond practices so as to increase survival rate and ensure more income; ♦ To educate farmers on advantages of mechanization and latest developments of shrimp farming across the globe. 4. Reference No. and date of the application F.No. 203/22/2015-ITA.II received on 27-5-2015 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 Noti....
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....f rule 6AAD. iii. The approved entity shall not accept any amount from the beneficiaries under the eligible agricultural extension project for training, education, guidance or for any material so distributed for the said purposes. Only the component of expenditure specifically relatable to training, education and guidance of the farmers shall be allowed; In addition: (a) No fees or deposits shall be charged from the trainees; (b) No certificate shall be issued to the trainees as a consequence of the said extension project; (c) No permanent infrastructure in form of building/college/training institute shall be created under the said project; (d) The applicant shall not be affiliated with any university for this project. iv. The a....
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....ve benefited from the project to the Ministry of Agriculture. vi. All expenses (not being expenditure in the nature of cost of any land [including pond cost or lease rental, excavation cost, outlet and catwalk expenses] or building), as reduced by the amount received from beneficiary, if any, incurred wholly and exclusively for undertaking an eligible agricultural extension project shall be eligible for deduction under section 35CCC: Provided that any expenditure incurred on the agricultural extension project which is reimbursed or reimbursable to the assessee by any person, whether directly or indirectly, shall not be eligible for deduction under section 35CCC. vii. Where a deduction under this section 35CC of the Act is claimed and ....