Deduction for company contributions extended to electoral trusts, allowing corporate donations to qualify for tax deduction from 2010-2011. The amendment adds 'or an electoral trust' to the deduction provision for corporate contributions, making contributions by Indian companies to electoral trusts eligible for deduction; it takes effect from 1 April 2010 and applies to the assessment year 2010-2011 and subsequent years.
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Provisions expressly mentioned in the judgment/order text.
Deduction for company contributions extended to electoral trusts, allowing corporate donations to qualify for tax deduction from 2010-2011.
The amendment adds "or an electoral trust" to the deduction provision for corporate contributions, making contributions by Indian companies to electoral trusts eligible for deduction; it takes effect from 1 April 2010 and applies to the assessment year 2010-2011 and subsequent years.
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