As per section 13A of Income Tax Act, 1961, the following income of political party will be exempt: 1.Income from House Property 2.Capital Gains 3.Income from Other Sources What about the Business Income of the political party ?
Menu
Tax status of Political Party
Replies (2)
Taxable. But their business itself is politics!
It is a special assessment as it falls in Chapter III
Recent Threads
- Tax Implications of Alumni Union (R) under Society
- Heard & Seen Around – Your Daily Economi
- Purchase and sales of Shares entry in Tally
- Where to know latest GST HSN Codes and their Rates
- Hsn code and rate cnsl crude oil
- Clarification required on taxation of income from
- Pension Income up to Rs.1,66,250 per month equal t
- Reappointment of Managing Director in a private li
- VAT deducted by Saudi company
- RCM doubt please clarify
Related Threads
CAclubindia
