TMI BlogNotified agricultural extension project u/s 35CCC of Income Tax Act, 1961 – M/s Marico Limited, Mumbai - Safflower Agricultural Extension Project.X X X X Extracts X X X X X X X X Extracts X X X X ..... Purpose of the agricultural extension project To improve the yield as well as increase the area under cultivation of safflower crops 4. Reference No. and date of the application 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. As ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or agricultural extension project, the genuineness of the activities of the agricultural extension project and fulfillment of the conditions specified in the relevant provisions of the Act or the rules or the conditions mentioned in the notification issued under sub-rule (6) or sub-rule (9) of 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. iv. The approved entity 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 35CC ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ral extension projects for the previous year along with the audit report and amount of deduction claimed under sub-section (1) of section 35CCC ; b) a note on the agricultural extension project undertaken by it during the previous year and the programme of agricultural extension project to be undertaken during the current year and the financial allocation for such programme; and c) a certificate from the Ministry of Agriculture, Government of India, regarding the genuineness of the agricultural extension project undertaken by the assessee during the previous year. ix. Under the project only product neutral training will be given except for a short session on company's profile and products. Further, the farmers benefitted u ..... X X X X Extracts X X X X X X X X Extracts X X X X
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