2025Section 47

47. Expenditure on agricultural extension project and skill development project.

In the 1961 Act1 match · Unreviewed

1961 Sections 35CCC, 35CCDMerged · Unreviewed · Compare

From the Income Tax Department's correspondence.

(1) Any expenditure (excluding cost of any land or building) incurred, on—

(a) agricultural extension project by any assessee; or

(b) any skill development project by a company,

shall be allowed as a deduction, in the tax year in which such expenditure is incurred provided such project is notified by the Board as per the guidelines issued by it.

(2) If a deduction under this section is claimed and allowed for any tax year in respect of any expenditure referred to in sub-section (1), deduction shall not be allowed for such expenditure under any other provision of this Act for the same or any other tax year.

Income-tax Act, 2025: text as on 25 August 2026 · Official source ↗ ·