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Payment to Associations and Institutions for carrying out Rural Development Programmes [Section 35CCA]

Under Section 35CCA, any assessee who is carrying on a business/profession shall be allowed a deduction of the amount of the expenditure incurred by way of payment of any sum to the following :

  1. any association or institution to be used for carrying out any programme of rural development approved before March 1, 1983;

  2. an association or institution which has its object the training of persons for implementation of a rural development programme approved before March 1, 1983;

  3. the National Fund for Rural Development; and

  4. notified National Urban Poverty Eradication Fund.

Conditions :

Deduction under this section shall be allowed only if following conditions are also satisfied:

  1. The assessee has obtained the approval of the prescribed authority in respect of such programme before the 1st day of March 1983;

  2. Such programme involves work by way of construction of any building or other structure Whether for use as dispensary, school, training or welfare centre, workshop or any other purpose or the laying of any road or the construction or boring of a well or tubewell or the installation of any plant and machinery and such work has commenced before the 1st day of March 1983;

  3. The expenditure on such programme is incurred in a case where the approval of the prescribed authority in respect of such programme has been granted for a specified period before the expiry of that period and any other case before the 1st day of March 1984;

  4. The assessee furnishes, alongwith the return of income for the assessment year for which the deduction is claimed, a statement of such expenditure in the prescribed form duly signed and verified by Chartered Accountant; and setting forth such particulars as may be prescribed.

    This benefit will be available only if contribution is made to an association or institution which is approved in this behalf by prescribed authority.

    This deduction will also be available on any amount paid to a rural development fund set up and notified by the Central Government in this behalf.
 

Topics...on ‘Profits and Gains of Business or Profession’

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Principles for Allowing Business Deductions / Allowances from Profits and Gains of Business or Profession.
Expenses Allowed as Deductions against Profits and Gains of Business or Profession [Section-30-37]
[Section 37(1)] : General Or Allowable Deductions under Business or Professions
Business Losses Deductible under the head  'Profits and Gains of Business or Profession'.
Expenses Not Deductible under the head 'Profits and Gains of Business or Profession (Section 40, 40A, 43B)
DEEMED PROFITS Chargeable to Tax as Business Income Under Profits and Gains of Business or Professions [Section 41]
Taxation of Undisclosed Business Income/Investments from Undisclosed Sources
Deduction in respect of Expenditure incurred on setting up of a Specified Business [Section-35AD] :
When Maintenance of Books of Accounts becomes Compulsory (Section 44AA)
Compulsory Audit of Books of Accounts by Chartered Accountant (Section 44AB)
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