Govt clarifies status of political party under Income Tax Act

Last updated: 19 December 2016

Clarification of Status of Political Parties under Income Tax Act, 1961 There have been some newspaper reports which seem to wrongly suggest that there cannot be any scrutiny of Income-tax returns of political parties registered with the Election Commission in the context of deposits of old currency notes. This inference seems to have been drawn because of the fact that the income of the political parties is exempt from Income - Tax under Section 13A. In this context, the following
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