§ 47
Chapter IV — Computation Of Total Income
Expenditure on agricultural extension project and skill development project
Income-tax Act, 2025
Businesses can claim a tax deduction for expenses on agricultural extension and skill development projects. To qualify, the project must be notified by the Board.
- Expenditure on land or buildings is not eligible.
📜 Official text of the section +
47. (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.
Tea development account, coffee development account and rubber
development account.
Plain-language summary — not the official text. Refer to the bare Act and confirm with a professional for your specific case.