Taxation of Political Parties - Section 13A

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..... geable under the head 'income from house property' Income chargeable under the head 'income from other sources' Any income by way of voluntary contribution from any person Any income from capital gain Requisite Condition [First Proviso to Section 13A] Such political party keeps and maintains such books of account and other documents as would enable the Assessi .....

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..... ion 31 of the Reserve Bank of India Act, 1934. Note: No exemption shall be available for a financial 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. Return of Income of Political Party Political Party required to furnish a return of income for the previous year in accordance with the provision .....

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