Notification No. 37/2014 [F.No.203/21/2014-ITA.II]

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pO Government of India
Ministry of Finance
Department of Revenue
| Central Board of Direct Taxes
Notification
FORM NO. 3CP
i. | Name, address and PAN of the applicant Rallis India Limited, 156/157, 15"
| | Floor, Nariman Bhawan, 227,
, ! Nariman Point, © Mumbai-400021
pf (AABCR2657N)
| 2. | Title of the agricultural extension project Rallis Kisan Kutumb — Tata ,
Rallis Agri Input Training |
_ __ _ _______ | Scheme (RKK- TRAITS’)
| 3. | Purpose of the agricultural extension project To provide training and guidance te |
the non graduate rural youth from farming background in the field of :
Agri. Marketing and crop. advising in collaboration with Krishi Vigyan
Kendras to enhance — agricultural productivity and increase aari. |
- oe — | Information. ee
| 4. Reference No. and date of the application F.No. 203/21/2014-ITA. II received |
a 0 24.07.2014
| 5. | Date of commencement of the agricultural | Already commenced. However, |
| | | extension project approval shall be effective from the |
date of issue of this formal |
| Notification u/s 35CCC of the LT. |
a _ A ee
6. | Duration of the agricultural extension project in | Ongoing project. _ |
| months a _ ee
| 7. Assessment year(s) for which the agricultural! From date of formal issue of |
extension project Is being notified (not! Notification till A.Y. 2016-17,
7 _exceeaing three years) oe ee 7
| 8. | Total expenses likely to be incurred for the | A.Y. 2015-16 (applicant has claimed
| agricultural extension project (other than cost of | expenses of Rs. 2,25,00,000/-. |
land or building) However, aS project is being accorded approval from subsequent date in the F.Yr. 2014-2015, the |
expected expenditure for the |
relevant. period would be much |
lesser) while for A.Y. 2016-17, likely |
CS expenditure Is Rs. 2,50,00,000/.
9. | Amount, if any, to be charged from = each NIL
, 7 beneficiary of agricultural extension project. ee |
. 10. Conditions subject to which agricultural extension project titled (RKK-TRAITS’) is being notified are as under:
(1) Tne 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.

(il) The audit report referred to in sup-rule (1) snall 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 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.

dil) The approved entity snali not accept any amount from the beneficiary under 7
the eligible agricultural extension project for training, education, guidance or any material distributed for the purposes of such training, education or guidance.

(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 35CCC of the Act, rule 6AAD and this rule.

(Vv) The manpower trained under the project if subsequently employed by the

applicant would be deployed for the purposes as stated in the application.
Further, database of trained personnel will be provided to the District
Agricultural Committee (DAC) concerned in the respective states.

(vi) All expenses (not being expenditure in the nature of cost of any land 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 agricultural extension project which is reimbursed or reimbursable to the assessee by any person, whether directly or indirectly, shall not be eligible for deduction under

section 35CCC.
(vii) Where a deduction under this section 35CC of the Act is claimed and allowed
| for any assessment year, deduction shall not be allowed in respect of such expenditure under any other provisions of the Act for the same or any other

| assessment year.

(vill) The approved entity shall, on or before the due date of furnishing the return of income under sub-section (1) of section 139, furnisn tne following to the
Commissioner of Income-tax or the Director of Income-tax, as the case may

- | be, namely:-
(a) the audited statement of accounts of the agricultural 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

| a, | ~3..
- (Cc) 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) The Central Board of Direct Taxes shall withdraw the approval if the approved entity:- :
(a) has ceased its activities’ or (D) its activities are found to be non-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 al Or any of the conditions subject to which the notification is being issued.
|
| Place: New-Delhi \
Dated: 9") /08/2014 a oe
Need ge (Richa Rastogi)
Under Secretary to the Government of India (F.No. 203/21/2014/ITA.II)
| Notification No. "5 | /2014
TO,
Tne Manager,
Govt. of India Press, |
Mayapuri, New Delhi
Copy forwarded to:
1. Railis India Limited, 156/157, 15" Floor, Nariman Bhawan, 227, Nariman Point,
Mumbai-400021 (Pan No.: AABCR2657N),
2, Ministry of Agriculture, Krishi Bhawan, New-Delhi.
| 3. Commissioner of Income-tax concerned.
4, The Department of Agriculture of the concerned State.
5, The Agricultural Technology Management Agency (ATMA) of the concerned
District(s).
6. Comptroller & Auditor General of India
| 7. Pr. CCIT, Mumbai
| 8. Concerned file
_ 9, Ministry of Law & Justice (correction section), N.Delhi |
10. UGIT(Systems), New Delhi for placing it on the website: Incometaxindia.gov.in
Gg 11. Guard File -
: 12. ITCC, CBDT (4 copies) vo (Richa Rastogi)
Under Secretary to the Government of India