Deduction restriction: cash contributions to political parties by companies are disallowed as tax-deductible under law. Amendment inserts a proviso in section 80GGB disallowing any deduction for sums contributed by way of cash by Indian companies to political parties or ... Summary
Deduction restriction: cash contributions to political parties by companies are disallowed as tax-deductible under law.
Amendment inserts a proviso in section 80GGB disallowing any deduction for sums contributed by way of cash by Indian companies to political parties or electoral trusts, thereby removing tax deduction entitlement for cash-mode contributions and narrowing the scope of deductible corporate political funding.
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