Assessment of political parties-Filing of returns-Regarding

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..... rty chargeable under the heads "Interest on securities", "Income from house property", "Income from other sources" or any income by way of voluntary contributions is exempt from income-tax. 2. Under Explanation to section 13A, political party means an association or body of individual citizens of India registered with the Election Commission of India as a political party under paragraph 3 of the .....

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..... tant as defined in the Explanation below sub-section (2) of Section 288. 4. Sub-section (4B) has been inserted in section 139 by the Taxation Laws (Amendment) Act, 1978, under which every political party is obliged to file every year a return of total income voluntarily. The total income for this purpose is to be computed without giving effect to the provisions of section 13A. If such total incom .....

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