Section 47 Income Tax Act 2025
Expenditure on agricultural extension project and skill development project.
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.