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Section 47

Expenditure on agricultural extension project and skill development project

(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 as per the guidelines issued by the Board.

(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.