TMI BlogNotified agricultural extension project u/s 35CCC of Income Tax Act, 1961 – Avanti Aqua Culture Training and Development CentreX X X X Extracts X X X X X X X X Extracts X X X X ..... Purpose of the agricultural extension project To educate farmers about increasing Feed Conversion Ratio (FCR) and have better Average Daily Growth (ADG); 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as defined in the Explanation below sub-section (2) of section 288 . ii. The audit report referred to in sub-rule (1) shall include the comments of the auditor on the true and fair view of the books of account maintained for agricultural extension project, the genuineness of the activities of the agricultural extension project and fulfilment 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 purpos ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ler/retailer of company's product, employee of the company or persons associated with marketing of the product shall be send abroad in the name of training; (e) Only the randomly selected farmers shall be send for training irrespective of their scale of operation; (f) Only one person per family shall be eligible for foreign training during the period of validity of this approval; (g) Expenses preparatory to the foreign tour shall not be borne by the applicant. v. The applicant shall furnish data sheet of farmers who have 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 catwa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s 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 a short session on company's profile and products. Further, the farmers benefited under the project will have the privilege of supplying their produce to any other entity. 11. The Central Board of Direct Taxes shall withdraw the approval if the approved entity:- (a) has ceased its activities; or (b) its activities are not genuine; or (c) its activities are not being carried out in accordance with all or any of the relevant provisions of the Act or Rules; or (d) its activities are not being carried out in accordance with all or any of the conditions subject ..... X X X X Extracts X X X X X X X X Extracts X X X X
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