Section 8 - Amendment of section 13A - Election And Other Related Laws (Amendment) Act, 2003

CHAPTER IV AMENDMENTS OF THE INCOME-TAX ACT, 1961 8. Amendment of section 13A. In section 13A of the Income-tax Act, 1961 (43 of 1961) (hereafter in this Chapter referred to as the Income-tax Act),- (i) in the proviso, in clause (b), for the words ten thousand rupees , the words twenty thousand rupees shall be substituted; (ii) after the proviso and before the Explanation, the following proviso shall be inserted, namely :- Provided further that if the treasurer of such political party or any other person authorised by that political party in this behalf fails to submit a report under sub-section (3) of section 29C of the Representation of People Act, 1951 (43 of 1951) for a financial year, no exemption under this section shall be available for that political party for such financial year. ; (iii) for the Explanation, the following Explanation shall be substituted, namely :- Explanation .- For the purposes of this section, political party means a political party registered under section 29A of the Representation of the People Act, 1951 (43 of 1951). .