Insertion of new sections 35CCC and 35CCD.

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..... Where an assessee incurs any expenditure on agricultural extension project notified by the Board in this behalf in accordance with the guidelines as may be prescribed, then, there shall be allowed a deduction of a sum equal to one and one-half times of such expenditure. (2) Where a deduction under this section is claimed and allowed for any assessment year in respect of any expend .....

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..... of such expenditure under any other provisions of this Act for the same or any other assessment year. . - Clause 10 of the Bill seeks to insert new sections 35CCC and 35CCD in the Income-tax Act relating to expenditure on agricultural extension project and expenditure on skill development project, respectively. Sub-section (1) of the proposed new section 35CCC provides that where an assesse .....

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..... velopment project notified by the Board in this behalf in accordance with the guidelines as may be prescribed, then, there shall be allowed a deduction of a sum equal to one and one-half times of such expenditure. Sub-section (2) of the aforesaid section provides that where a deduction under this section is claimed and allowed for any assessment year in respect of any expenditure referred to in su .....

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