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of <h1>Finance Bill 2017: Amends Section 13A, limits cash donations to 2,000 rupees for tax-exempt political contributions.</h1> The Finance Bill, 2017 proposes amendments to Section 13A of the Income-tax Act concerning the income of political parties. It introduces a limit of 2,000 rupees for cash donations, requiring donations above this amount to be made via cheque, bank draft, electronic transfer, or electoral bonds to qualify for tax exemption. Political parties must also file income returns by the due date under Section 139. Contributions received through electoral bonds are exempt from reporting. These changes are effective from April 1, 2018, applicable from the assessment year 2018-2019 onwards.
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