Introducing the “In Favour Of” filter in Case Laws.
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Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
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of <h1>Political parties and electoral trusts enjoy tax exemptions with strict conditions on contributions and reporting.</h1> Income from house property, other sources, capital gains, and voluntary contributions received by political parties and electoral trusts are excluded from their total income under specified conditions. Political parties must maintain proper accounts, audit them, and report contributions exceeding 20,000, except those via electoral bonds. Contributions over 2,000 must be non-cash. Electoral trusts must distribute 95% of donations to registered political parties within the tax year and adhere to government rules. Both entities must file returns by the due date to qualify for these exemptions.
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