Exemption for political parties limits application of profit-or-profession tax provisions, though accounts and audit remain required. Income of political parties falls under the special exemption regime and is not to be treated as income from profession or business, so Chapter IVD provisions and the audit/penalty provisions for profession cannot be applied to such income; voluntary contributions are not income from profession. Political parties must nevertheless maintain accounts and obtain an audit by an accountant as required under the exemption framework to claim the benefit.