TAXATION OF POLITICAL PARTY:-SECTION 13A

Any Income of a political party which is chargeable under the head other than "P/G/B/P" or any other income by way of voluntary contribution received by a political party from any person shall not be included in the total income of the previous year of such political party.

Provided that:-

• such political party keeps and maintains such book of accounts and other documents as would enable the assessing officer to properly deduce its income therefrom;
• in respect of donation in excess of Rs 20000 jeeps and maintain a record of such contribution and the name and address of the person who has made such contribution; and
• the accounts are audited by an accountant as defined in the explanation below sub-section(2) of section 288.

EXPLANATION:-For the purpose of this section,"political party" means a political party registered under section 29A of the Representation of the People Act,1951.