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of <h1>Electoral Trusts' Voluntary Contributions Exempt Under Section 13B; 95% Distribution Required; Other Income Taxable</h1> Under Section 13B, an electoral trust's voluntary contributions are considered income, but they are exempt from taxation if 95% of the donations are distributed to registered political parties within the same year, following government rules. Interest from investments like bank FDRs is taxable. Donations to electoral trusts are deductible under Sections 80GGB and 80GGC, provided they are not in cash. The exemption applies only to voluntary contributions, not other income, which remains taxable.
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