Exemption of political party and electoral trust income depends on specified schedule conditions; failure makes such income taxable.

Income of political parties and electoral trusts enumerated in the specified schedule is excluded from their total income for a tax year only if the schedule conditions are fulfilled; failure to satisfy those conditions results in that income being included in total income and charged to tax for that year. The Central Government may make rules or issue notifications to implement the schedule's requirements and the exclusion framework.

---

---

---