Guidelines for Weighted Deduction @ 150% of the Expenditure Incurred on skill Development Under Section 35ccd of the Income-Tax Act, 1961

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..... re Incurred on skill Development Under Section 35ccd of the Income-Tax Act, 1961. The National Manufacturing Policy (NMP) 2011 proposed to provide inter alia, the following direct taxes incentives to promote skill development: "Weighted deduction of 150% of the expenditure (other than land or building) incurred in Public Private Partnership (PPP) projects for skill development in manufacturing s .....

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..... r thing (other than alcoholic spirits and tobacco products) or engaged in providing specified services, as listed under Rule 6AAH, shall be eligible for weighted deduction of the expenditure incurred on skill development. 2) The project should be undertaken in separate facilities in a training institute set up by the Central or State Government or a local authority or a training institute affilia .....

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..... he company by any person, whether directly or indirectly. 5) The company undertaking skill development project shall be required to maintain separate books of account of the project notified under section 35CCD and get such books of account audited. 6) It is intended that the skill development project shall provide training to potential employees or newly recruited employees. Skill development o .....

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