Clarification regarding applicability of Chapter IVD in the case of political parties.

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Full Text of the Document

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....ion regarding the applicability of sections 44AB and 271B of the Income tax Act, in the case of political parties. 2. The Board consulted the Ministry of Law and Justice and have been advised that: i) the idea of profession arises from a profit motive. In a political party, as in any a charitable institution, there is no private profit motive nor a possibility of distribution of income among....