1(1) Where a company incurs any expenditure (not being expenditure in the nature of cost of any land or building) on any skill development project notified by the Board in this behalf in accordance with the guidelines as may be prescribed, then, there shall be allowed a deduction of a sum equal to one and one-half times of such expenditure.
2 Provided that for the assessment year beginning on or after the 1st day of April, 2021, the provisions of this sub-section shall have effect, as if for the words "an amount equal to one and one-half times of", the words "a sum equal to" had been substituted.
(2) Where a deduction under this section is claimed and allowed for any
assessment year in respect of any expenditure referred to in sub-section (1),
deduction shall not be allowed in respect of such expenditure under any other
provisions of this Act for the same or any other assessment year.
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1. Ins. by Act 23 of 2012, s. 10 (w.e.f. 1-4-2013).
2. Ins. by Act 28 of 2016, s. 20 (w.e.f. 1-4-2017)
Section 35A Expenditure on acquisition of patent rights or copyrights
Section 35AB Expenditure on know-how
Section 35ABA Expenditure for obtaining right to use spectrum for telecommunication services
Section 35ABB Expenditure for obtaining licence to operate telecommunication services
Section 35AC Expenditure on eligible projects or schemes
Section 35AD Deduction in respect of expenditure on specified business