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of <h1>Income Tax Bill 2025: Clause 47 Introduces Deductions for Sustainable Agriculture and Skill Development Investments</h1> Clause 47 of the Income Tax Bill, 2025, introduces tax deductions for expenditures on agricultural extension and skill development projects. This provision aims to encourage businesses to invest in sustainable agriculture and workforce skills, aligning with government policy objectives. It consolidates previous incentives under Sections 35CCC and 35CCD of the Income-tax Act, 1961, to streamline the process and reduce administrative burdens. Clause 47 prohibits claiming deductions for the same expenditure under multiple provisions, preventing double-dipping. By offering these tax incentives, the government seeks to enhance economic growth and development while requiring compliance with specific guidelines.
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