(i) Eligible assessee. Company
(ii) Nature of expenditure. The expenditure must have been incurred on any skill development project notified by the Board in this behalf in accordance with the prescribed guidelines.
Note : The expenditure must not have been incurred on acquisition of Land or Building.
(iii) Amount of deduction. 150% of such expenditure.
(iv) No deduction under any other section. Where such expenditure is claimed and allowed under this section for any assessment year, no deduction shall be allowed in respect of such expenditure under any other provisions of the Income tax Act for the same or any assessment year.