9911796707
TMI BlogAmendment of Income-tax Rules, 1962 - INSERTION OF RULES 6AAD & 6AAE AND FORM NOS. 3C-O & 3CPX X X X Extracts X X X X X X X X Extracts X X X X ..... after rule 6AAC, the following rules shall be inserted, namely:- "6AAD. Guidelines for approval of agricultural extension project under section 35CCC. (1) The agricultural extension project shall be considered for notification if it fulfils all of the following conditions namely:- (i) the project shall be undertaken by an assessee for training, education and guidance of farmers; (ii) the project shall have prior approval of the Ministry of Agriculture, Government of India; and (iii) the expenditure (not being expenditure in the nature of cost of any land or building) exceeding an amount of twenty-five lakh rupees is expected to be incurred for the project. (2) An assessee, before undertaking any agricultural extension project, sh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... plicant shall remove the defect within a period of fifteen days from the date of such intimation or within such further period which, on an application made in this behalf, as may be extended by the Commissioner of Income-tax or the Director of Income-tax, as the case may be, so however, that the total period for removal of defect does not exceed thirty days, and if the applicant fails to remove the defect within such period so allowed, the Commissioner of Income-tax or the Director of Income-tax, as the case may be, shall send his recommendation for treating the application as invalid to the CBDT. (7) On receipt of recommendation of the Commissioner of Income-tax or the Director of Income-tax, as the case may be, under sub-rule (6), the C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an order rejecting the application. (11) If the CBDT is satisfied with the activities of the agricultural extension project during the period of notification, it may notify the said project for a further period. (12) A copy of the notification issued under sub-rule (10) or sub-rule (11) shall be sent to the applicant, Ministry of Agriculture, Government of India, the Commissioner of Income-tax or the Director of Income-tax, as the case may be, the Department of Agriculture of the concerned State, and the Agricultural Technology Management Agency (ATMA) of the concerned District(s). (13) The CBDT may rescind the notification issued under sub-rule (10) or sub-rule (11) at any time, if it is satisfied that the assessee has ceased its activ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ness of the activities of the agricultural extension project and fulfillment of the conditions specified in the relevant provisions of the Act or the rules or the conditions mentioned in the notification issued under sub-rule (10) or sub-rule (11) of rule 6AAD. (3) The assessee shall not accept an amount exceeding the amount as approved in the notification from the beneficiary under the eligible agricultural extension project for training, education, guidance or any material distributed for the purposes of such training, education or guidance. (4) The assessee shall not get any direct or indirect benefit from the notified agricultural extension project except the deduction of the eligible expenditure in accordance with the provisions of s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tor of Income-tax, as the case may be, is satisfied that the,--- (a) assessee has not maintained separate books of account for the agricultural extension project or has not got such books of account audited by an accountant in accordance with sub-rule (1); (b) assessee has not furnished the documents referred to in sub-rule (6); (c) assessee has ceased to carry out activities of agricultural extension project; (d) activities of agricultural extension project of the assessee are not genuine; or (e) activities of the agricultural extension project are not being carried out in accordance with the relevant provisions of the Act or the rules or the conditions subject to which the notification was issued, he may, after making appropriate in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... plementation, expected results and usefulness of the Project.) 3. Details of expenses (other than land or building) expected to be incurred for agricultural extension project. 4. Amount, if any, proposed to be charged from each beneficiary of agricultural extension project. 5. Agricultural extension projects undertaken by the applicant: (i) agricultural extension projects undertaken by the assessee during last five years, if any along with their current status. (ii) Details of agricultural extension projects which have been taken up in past and which are underway on the date of filing of application. 6. Whether the agricultural extension project approved by Ministry of Agriculture, Government of India. (Enclose a copy of letter obtai ..... X X X X Extracts X X X X X X X X Extracts X X X X
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