Special provision relating to incomes of political parties

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..... apital gains" or] any income by way of voluntary contributions received by a political party from any person shall not be included in the total income of the previous year of such political party : Provided that- (a) such political party keeps and maintains such books of account and other documents as would enable the 4[Assessing] Officer to properly deduce its income therefrom; (b) in r .....

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..... proviso, "electoral bond" means a bond referred to in the Explanation to sub-section (3) of. section 31 of the Reserve Bank of India Act, 1934:'; (2 of 1934)] 6[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 the People Act, 1 .....

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..... 4. Substituted for "Income-tax" by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988. 5. Substituted for "ten" by the Election and Other Related Laws (Amendment) Act, 2003, w.e.f. 11-9-2003. 6. Inserted by the Election and Other Related Laws (Amendment) Act, 2003, w.e.f. 11-9-2003. 7. Substituted, by the Election and Other Related Laws (Amendment) Act, 2003, w.e.f. .....

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