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of <h1>Amendment to Section 13A: Political Parties Can Accept Donations Over 2000 via Electronic Modes from April 2020.</h1> Clause 8 of the Finance (No. 2) Bill, 2019 amends section 13A of the Income-tax Act, which pertains to the income of political parties. The amendment modifies the first proviso in clause (d) to allow political parties to receive donations over two thousand rupees through prescribed electronic modes, in addition to bank accounts. This change aims to broaden the methods of receiving contributions and will be effective from April 1, 2020, impacting the assessment year 2020-2021 onward.
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