Income exemption for political parties: specified schedule receipts excluded from taxable income when conditions are met. Incomes enumerated in Schedule VIII are excluded from total income of political parties and electoral trusts for a tax year if the Schedule's conditions are met; failure to satisfy those conditions in a tax year causes the income to be chargeable to tax for that year. The Central Government may make rules or issue notifications to implement the Schedule's provisions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Income exemption for political parties: specified schedule receipts excluded from taxable income when conditions are met.
Incomes enumerated in Schedule VIII are excluded from total income of political parties and electoral trusts for a tax year if the Schedule's conditions are met; failure to satisfy those conditions in a tax year causes the income to be chargeable to tax for that year. The Central Government may make rules or issue notifications to implement the Schedule's provisions.
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