Income Tax Act, 2025
Section 4: Ins. by Act 32 of 2003, s. 12 (w.e.f. 11979).
4. Ins. by Act 32 of 2003, s. 12 (w.e.f. 11979).
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Provided that—
(a) such political party keeps and maintains such books of account and other documents as would
enable the 1[Assessing Officer] to properly deduce its income therefrom;
(b) in respect of each such voluntary contribution 2[other than contribution by way of electoral
bond] in excess of 3[twenty thousand rupees], such political party keeps and maintains a record of
such contribution and the name and address of the person who has made such contribution; 4***
(c) the accounts of such political party are audited by an accountant as defined in
the Explanation below sub-section (2) of section 288 2[; and]
2[(d) no donation exceeding two thousand rupees is received by such political party otherwise
than by an account payee cheque drawn on a bank or an account payee bank draft or use of electronic
clearing system through a bank account or through electoral bond.
Explanation.––For the purposes of this proviso, “electoral bond” means a bond referred to in the
Explanation to sub-section (3) of section 31 of the Reserve Bank of India Act, 1934 (2 of 1934):]
5[Provided further that if the treasurer of such political party or any other person authorised by that
political party in this behalf fails to submit a report under sub-section (3) of section 29C of the
Representation of the People Act, 1951 (43 of 1951) for a financial year, no exemption under this section
shall be available for that political party for such financial year:]
2[Provided also that such political party furnishes a return of income for the previous year in
accordance with the provisions of sub-section (4B) of section 139 on or before the due date under that
section.]
6[Explanation.—For the purposes of this section, “political party” means a political party registered
under section 29A of the Representation of the People Act, 1951 (43 of 1951).]
7[13B. Special provisions relating to voluntary contributions received by electoral trust.—Any
voluntary contributions received by an electoral trust shall not be included in the total income of the
previous year of such electoral trust, if—
(a) such electoral trust distributes to any political party, registered under section 29A of the
Representation of the People Act, 1951 (43 of 1951), during the said previous year, ninety-five
per cent. of the aggregate donations received by it during the said previous year along with the
surplus, if any, brought forward from any earlier previous year; and
(b) such electoral trust functions in accordance with the rules made by the Central Government.]
such political party keeps and maintains such books of account and other documents as would
enable the 1[Assessing Officer] to properly deduce its income therefrom;
in respect of each such voluntary contribution 2[other than contribution by way of electoral
bond] in excess of 3[twenty thousand rupees], such political party keeps and maintains a record of
such contribution and the name and address of the person who has made such contribution; 4***
the accounts of such political party are audited by an accountant as defined in
the Explanation below sub-section
of section 288 2[; and]
2[
no donation exceeding two thousand rupees is received by such political party otherwise
than by an account payee cheque drawn on a bank or an account payee bank draft or use of electronic
clearing system through a bank account or through electoral bond.
Explanation.––For the purposes of this proviso, “electoral bond” means a bond referred to in the
Explanation to sub-section
of section 31 of the Reserve Bank of India Act, 1934 (2 of 1934):]
5[Provided further that if the treasurer of such political party or any other person authorised by that
political party in this behalf fails to submit a report under sub-section
of section 29C of the
Representation of the People Act, 1951 (43 of 1951) for a financial year, no exemption under this section
shall be available for that political party for such financial year:]
2[Provided also that such political party furnishes a return of income for the previous year in
accordance with the provisions of sub-section
of section 139 on or before the due date under that
section.]
6[Explanation.—For the purposes of this section, “political party” means a political party registered
under section 29A of the Representation of the People Act, 1951 (43 of 1951).]
7[13B. Special provisions relating to voluntary contributions received by electoral trust.—Any
voluntary contributions received by an electoral trust shall not be included in the total income of the
previous year of such electoral trust, if—
such electoral trust distributes to any political party, registered under section 29A of the
Representation of the People Act, 1951 (43 of 1951), during the said previous year, ninety-five
per cent. of the aggregate donations received by it during the said previous year along with the
surplus, if any, brought forward from any earlier previous year; and
such electoral trust functions in accordance with the rules made by the Central Government.]