Hi,f
In respect of donation to a political party, a proviso is added to section 13a. It says that Donations in excess Rs 2000 not be received other than in the mode of account payee cheque or draft or electronic clearing system. If received the benefit of section 13a not available.
My query is,
I) whether the cap of 2000 is for aggregate donation from all donors or individually?.
ii)If such clause is violated, exemptions to other gains like capital gain, ifos, ifhp are also denied?.
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Section 13A Political Party.
Replies (2)
1)Single Donation should not exceed more than 2000
if exceeds then taxable
2) if it is violated then it will not affect the other exemptions
if exceeds then taxable
2) if it is violated then it will not affect the other exemptions
If exceeded 2000, it is taxable at what rate of tax?
And business income for political party is taxable at what rate?
And business income for political party is taxable at what rate?
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