https://www.taxtmi.com/acts?id=11736 A deduction is allowed for contributions in a financial year to a political party or electoral trust, subject to a cap: for companies the cap is based on the average of net profits for the three immediately preceding financial years as determined under companies law provisions, and for other persons the cap is tied to gross total income from ordinary sources; "contribution" is defined by reference to the meaning in section 293A of the Companies Act, 1956. en-us Thu, 16 Sep 2010 18:59:01 +0530 Fri, 17 Sep 2010 13:39:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=11736 A deduction is allowed for contributions in a financial year to a political party or electoral trust, subject to a cap: for companies the cap is based on the average of net profits for the three immediately preceding financial years as determined under companies law provisions, and for other persons the cap is tied to gross total income from ordinary sources; "contribution" is defined by reference to the meaning in section 293A of the Companies Act, 1956. Act-Rules Bills Thu, 16 Sep 2010 18:59:01 +0530 https://www.taxtmi.com/acts?id=11736