APPLICABILITY – Where an assessee incurs any expenditure on agricultural extension project notified by the Board in this behalf in accordance with the guidelines as may be prescribed, then, there shall be allowed a deduction on such expenditure.

AMOUNT OF DEDUCTION – The assessee shall be allowed a deduction equal to 150 per cent or one and one-half times of such expenditure.

NATURE OF EXPENDITURE – The deduction shall be allowed for expenditure incurred on Extension of Agricultural Projects.

NON – ALLOWABILITY – If the assessee has already claimed any deduction for any assessment year, in the respect of expenditure as incurred above, then the assessee shall not be allowed any further deduction for the same or any other assessment year.