Q. 45.0( 3 Votes )
Is it necessary for a political party to file an income tax return?
Yes, it is necessary for a political party to file an income tax returns.
The Election Commission has made it compulsory to file the income tax returns, for the political parties. Any political party as per Section 13A is required to furnish return of income under Section 139(4B) if its income exceeds maximum amount not chargeable to tax.
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