Modification No. 16/2015 dated 16.02.2015 - 49/2021 - Income Tax

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION NO. 49/2021 New Delhi, the 6th May, 2021 FORM NO. 3CP S.O. 1767(E). -The Central Board of Direct Taxes, in exercise of its powers under section 35CCC of the Income-tax Act,1961 (43 of 1961) read with Rules 6AAD and 6AAE of the Income-tax Rules,1962 and in partial modification of the Notification No. 16/2015 dated 16.02.2015, issued vide F.No. 203/29/2014-ITA.II, hereby specifies that Sl.No.7 and Sl.No.8 of said Notification shall be read as below: 7 Assessment Year(s) for which the agricultural extension project is being notified (not exceeding three years). From date of formal issue of Notification No.16/2015 (i.e.) 16.02.2015 till A.Y 2017-18. 8. Total expenses likely to be incurred for the agricultural extension project (other than cost of land or building) Assessment Year Sanctioned expenditure (Amount in Rs.) 2015-16 10,82,00,000* 2016-17 10,82,00,000 2017-18 10,82,00,000 *However, as project has been accorded approval from subsequent date in the F.Y. 2014-15, i.e., A.Y. 2015-16, the sanctioned expenditure for the relevant period is to be allowed w.e.f. 16.02.2015. [F. No. 203/29/2014-ITA.II] PRAJNA PARAMITA, Director