Expenditure on skill development project.35CCD.
(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 prescribed92
, then, there shall be allowed a deduction of a sum equal to one and one-half times of such expenditure :93
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.