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Skill Development Project – Sec 35CCD

U.C Date : 25 Feb 2015

Eligible Assessee – Company

Eligible expenditure – Expenditure(not being cost of land or building) incurred on notified Skill development  project in accordance with the prescribed guidelines

Deduciton allowed – 150% of such expenditure

Where a deduction is allowed under this section, then deduction for such expenditure is not allowed under any of the provisions of the Act for the same or any other assessement year.

Bare Act for Sec 35CCD

Bare Act for Sec 35CCD

(1) Where a company incurs any expenditure (not being expenditure in the nature of cost of any land or building) on any skill development project notified by the Board in this behalf in accordance with the guidelines as may be prescribed, then, there shall be allowed a deduction of a sum equal to one and one-half times of such expenditure.

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

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