Deduction for political contributions allows companies and individuals to deduct contributions to registered political parties, with exclusions. Two new Income-tax Act deductions permit amounts contributed to political parties to be deducted from total income: one for contributions by Indian ... Summary
Deduction for political contributions allows companies and individuals to deduct contributions to registered political parties, with exclusions.
Two new Income-tax Act deductions permit amounts contributed to political parties to be deducted from total income: one for contributions by Indian companies, with "contribute" defined by reference to the Companies Act, and one for contributions by any person except local authorities and juridical persons wholly or partly government funded; "political party" is defined by registration under the Representation of the People Act.
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