CBDT amends vide Notification No. 16/2015 dated 16.02.2015 which CBDT notified ‘ Godrej Agrovet Limited – Agricultural Inputs Extension Project‘ under section 35CCC of the Income-tax Act,1961 (43 of 1961) read with Rules 6AAD and 6AAE of the Income-tax Rules,1962. CBDT now amends the same vide Notification No. 49/2021 -Income Tax Dated: 6th May 2021.
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
New Delhi
Notification No. 49/2021 -Income Tax Dated: 6th May 2021
FORM NO. 3CP
S.O. 1767(E). The Central Board of Direct Taxes, in exercise of its powers under section 35CCC of the Income-tax Act,1961 (43 of 1961) read with Rules 6AAD and 6AAE of the Income-tax Rules,1962 and in partial modification of the Notification No. 16/2015 dated 16.02.2015, issued vide F.No. 203/29/2014-ITA.II, hereby specifies that Sl.No.7 and Sl.No.8 of said Notification shall be read as below:
| 7. | Assessment Year(s) for which the agricultural extension project is being notified (not exceeding three years) | From date of formal issue of Notification No. 16/2015 dated 16.02.2015 till A.Y. 2017-18. | ||
| 8. | Total expenses likely to be incurred for the agricultural extension project (other than cost of land or building) | Assessment Year | Sanctioned expenditure (Amount in Rs.) |
|
| 2015-16 | 10,82,00,000* | |||
| 2016-17 | 10,82,00,000 | |||
| 2017-18 | 10,82,00,000 | |||
| *However, as project has been accorded approval from subsequent date in the F.Y. 2014-15, i.e., A.Y. 2015-16, the sanctioned expenditure for the relevant period is to be allowed w.e.f. 16.02.2015. | ||||
[Notification No. 49/2021/F. No. 203/29/2014-ITA.II]
PRAJNA PARAMITA, Director
