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Notified agricultural extension project u/s 35CCC of Income Tax Act 1961 Avanti Aqua Culture Training and Development Centre

Income Tax - 55/2015 - Dated:- 30-6-2015 - Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Notification No. 55/2015 New Delhi, Dated 30-6-2015 FORM NO. 3CP 1. Name, address and PAN of the applicant M/s Avanti Feeds Limited , Hyderabad PAN:-AABCA7365E 2. Title of the agricultural extension project Avanti Aqua Culture Training and Development Centre 3. Purpose of the agricultural extension project ♦ To educate farmers about increasing Feed Conversi .....

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ate 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. Assessment year(s) for which the agricultural extension project is being notified (not exceeding three years) From date of formal issue of Notification till 31-3-2018 8. Total expenses likely to be incurred for the agricultural extension project (other than cost of land or building) For F.Yr's 2015-16, 2016-17 and 2017-18 applicant has .....

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being notified are as under: i. The approved entity undertaking agricultural extension project shall maintain separate books of account of the agricultural extension project notified under sub-section (1) of section 35CCC, and get such books of account audited by an accountant 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 fo .....

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or the said purposes. Only the component of expenditure specifically relatable to training, education and guidance of the farmers shall be allowed; In addition: (a) No fees or deposits shall be charged from the trainees; (b) No certificate shall be issued to the trainees as a consequence of the said extension project; (c) No permanent infrastructure in form of building/college/training institute shall be created under the said project; (d) The applicant shall not be affiliated with any universit .....

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e visit shall be subject to the following conditions: (a) Only the component of expenditure specifically and exclusively relatable to training, education and guidance of the farmers shall be allowed; (b) Only one foreign training can be imparted to an individual farmer i.e. once foreign training has been given to a individual farmer, he shall be ineligible for subsequent nomination; (c) The foreign training shall be of generic nature unrelated to company's business; (d) No dealer/retailer of .....

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armers 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 catwalk expenses] or building), as reduced by the amount received from beneficiary, if any, incurred wholly and exclusively for undertaking an eligible agricultural extension project shall be eligible for deduction under section 35CCC: Provided that any expenditure incurred on the agr .....

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