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TAXATION OF POLITICAL PARTIES 13A

Income Tax - Tax Liability in special Circumstances / Specific Cases - 05 - SPECIAL PROVISION RELATING TO INCOMES OF POLITICAL PARTIES SECTION 13A Any income of a political party Which is chargeable under the head income from house property or income from other sources or Capital gains or any income by way of voluntary contributions (donations) Received by a political party[i] From any person Shall not be included in the total income of the previous year of such political party. Provided that- S .....

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ancial year, if political party failed to submit a report under section 29C(3) of the Representation of the People Act, 1951 for a financial year. SOME IMPORTANT NOTES:- Tax exemption of political party is governed by -Section 13A Return of Income to be filed by Political Party -Section 139(4B) Deduction to the person giving Donation to political party: Companies- Section 80GGB ITR-7 to be used for filing ROI Political party to be registered u/s 29 of Representation of People Act. Books of polit .....

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