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Taxability of donations received for election expenses

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(Querist)
20 December 2012 A person stands as a candidate in Assembly Elections. He/she got Rs.15 lacs as a donation for election expenses. Candidate has spent Rs. 10 lacs as election expenses and surplus of Rs. 5 lacs is still in hands of the candidate. what is the tax impacts on this surplus of Rs. 5 lacs?
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Mohit Naithani

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Mohit Naithani (Expert)
20 December 2012 Any donation receive by any political party under Representation of People Act is exempt from tax. But if an assessee receive direct donation for election is not exempt and whole amount of Rs 15 Lakhs is taxable in his as income from other sources..

If this amount is given to him by any political party then its exempt.

But
If he receive directly by an assessee then its fully taxable in his hand.
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