Notification No. 41/2014 [F.No.203/26/2014-ITA.II]

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Government of India
- Ministry of Finance |
, Department of Revenue
] Central Board of Direct Taxes | |
; Notification |
| FORM NO. 3cp
. a Lae ECavass end Pan oF the apolicant ! Rallis India Limited, 156/157, |
2 Floor, — Nariman Bhawan, 227
: Nariman Point, Mumbai-400021 |
- “AABCR2657N) |
: (2. Tie of the agricultural . extension sroject Rallis Kisan Kutumba- More |
ee —__| Pulses Project. A
: 3, | Purpose of the agricultural extension project Under this Project various trainings |
: a cF conducted to offer assistance in, e ! | INCreasing cultivation Of various kinds |
oe | :
, pO Of pulses and their yields. Round the |
. : | Clock training is provided, from land |
: —_ fo _ d"eparation to Narvest ;
4. | Reference No. and date of the application F.No. 203/26/2014-ITA TI received ! |
pocket Ca she dese ee On e4.07.2014 |
7 fa | 5. | Date of commencement of the agricultura| Already commenced. However, |
| bocce on onde RETO project deproval shall be effective from che |
peo | ep of issue of this forma, :
| opener 2 | Notification U/S 35CCC of the LT
e// Duration oF the SoreanS extension project in | Ongoing projeck Oo
7 months tural) Ong ane oe 7, | Assessment year(s) for which tha agricultural | From date of formal issue of |
Be Lextersion, project is being notified not Notification til] A.Y. 2016-17, |
(a excel thre veers) | MON ation ee oe aoe] CrrciFotal expenses likely to be curred for the | AY, 2015-16 (applicant has Claimed |
bo ope eagricattaral extension project (other than cost of | Expenses of Re 20,000,000/-. , anata ani d or bui iding) | Howevae 'y @S project j S Deing !
poo a - | accorded approval from suDsequent
| date in the PLY, 2014-2015 the |
: | | vA a | expected expenditure for — the |
are a | Py 7 relevant Period would be much
, xd, ‘On | aa : leSSEr) wnile for A.Y. 2016-1 7, likely pM He Sm Sach epenctture is Rs. 7,50,00,000/-.
VY \ > Amount IF any, to bb charged fram Bach | NIL |
| | beneficiary of agricultural extension project, _ — a _|
“10. Conditions subject to which agricultural extension Project titled CRKK-More Pulses a Project’) is being notified a-e as under:
(i) The approved er tity undertaking ag"icultural extension Project shall Maintain
| | “Cparate books of eccount of the egricultura! -xtersion Project notified Under sub-
i CZ section (1) of section 25CCC, and gat such books of account audited by an
A\ vA countant as defined nthe Explanation be‘ow SUD-Section (2) of section 288.
Z \ | “USS A Looess |
| DM U rane TR |
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7 fo. (ii) The audit report referred to in sub-rule (1) shall Include the comments of the
| Oo auditor on the true and fair view of the books of account maintained for agricultura}
extension project, the genuineness of the activities of the agricultural extension
- Project and fulfillment of the conditions specified IN the relevant provisions of tne

Act or the rules or the conditions rnentioned in tne notification issued under sub-

rule (6) or sub-rule (9) of rule BAAD. |

(iil) The approved entity shall not accept any amount from the beneficiary under the
| eligible agricultural extension Project for training, education, guidance or any

material distributed for the PUrpOSes Of such training, education Or guidance.
(lv) 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 prov'sions of section S5CCC of the Act, rule BAAD and this rule,
\ (vy) Under the project Only product neutral training will be given except a short
SESSION ON company’s profile and products, ; (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 ba eligible for deduction under section 35CCC:
Provided that dny expenditure incurred on the agricultural extension
Project which is reimbursed or reimbursable to the assessee Dy any person,
: whether directly or Indirectly, shall not be eligible for deduction under section

35CCC.

(vil) Where a deduction under this section 35CC of the Act is claimed and allowed ror any assessment year, deduction shall not be allowed in respect of such expenditure under any otner Provisicins of the Act for the same Or any other

assessment year, |

(vill) Database of extension workers under this project would be given to the
District Agricultural Committee (DAC) concerned in the respective states.

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

De, Namely:- -
a. the audited statement of accounts of the agricultural extension projects
4 for the previous year along with the audit report and amount of

oo deduction claimed under SUD-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

-3-
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.
(x) The Central Boarc of Direct Taxes shall withdraw the approval if the approved entity: -
a. Nas ceased its activities: or b. its activities are found to be non-genuine: or
Cc. 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 to which the Notification is being issued.
| py
Place: New-Delhi . |
Dated: /08/2014 __ re
, | <a 7 a aa i (Richa Rastogi)
Under Secretary to the Government of India
| (F.No. 203/26/2014-ITA. II)
Notification No. 4“! 2014
To,
Tne Manager,
Govt. of India Press,
Mayapuri, New Delhi
| Copy forwarded to:
l. Rallis India Limited, 156/157, 15" Fioor, Nariman Bnawan, 227, Nariman
Point, Mumbai-400021 (Pan No.: AABCR2657N).
2. Ministry of Agriculture, Krishi Bnawan, New-Delhi.
3. Commissioner of Income-tax, concerned.
— 4. The Department of Agriculture of the concerned State.
». The Agricultura} Technology Management Agency (ATMA) of the concerned
District(s).
6 Comptroller & Auditor General of India
| / Pr. CCIT, Mumbai
—. 8 Concerned file
J Ministry of Law & Justice (correction section), New Delhi
1Q DGIT(Systems), New Delhi for placing it on the website:incometaxindia.gov.in
11 Guard File |
12 ITCC, CBDT (4 copies) y |
Ny phy (Richa Rastogi)
: Under Secretary to the Government of India