Taxation of Political Donations with How to Respond to Notices Concerning Bogus Political Donations

This handbook comprehensively covers Income-tax & related aspects of political donations, including the following:

• Provisions of Income-tax Act applicable to Donations to Political Parties
• Acceptance of Donations by Political Parties & Tax Exemption to Political Parties
• How to Handle Income Tax Notices Received by Donors with Case Studies
• Specimen Replies against Show-cause Notice for Making Disallowance

The Present Publication is the Latest 2023 Edition and has been amended up to April 2023. This book is authored by CA Srinivasan Anand G. with the following noteworthy features:

• Handbook for Claiming Deduction u/s 80GGB & 80GGC for donations to the following:
  • Donations to Political Parties
  • Payments for Advertisement in Souvenirs, Brochures, Tracts, or Pamphlets of Political Parties
• Detailed Analysis of Legal Provisions which includes the following:
  • Income-tax Act, 1961
    • Section 80GGB
    • Section 80GGC
    • Section 37(2B)
  • Representation of People Act, 1951
  • Companies Act, 2013
• Checklist for Making Donations to Political Parties and avoiding the following:
  • Violation of Relevant Provisions of the Companies Act, 2013
  • Avoiding Loss of Deduction under Sections 80GGB/80GGC
  • Avoiding Disallowance under Section 37(2B)
• How to Respond to Notices Supplemented by Case Studies regarding bogus political donations
• Specimen Replies against show-cause notice for making disallowance

The detailed contents of the book are as follows:

• Provisions of Income-tax Act applicable to Donations to Political Parties
  • Introduction
  • Tax Benefits to Corporate Donors or Donations made to Political Parties
  • Tax Benefits to Non-Corporate Donors on Donations Made to Political Parties
  • Expenditure on Advertisement in Souvenirs, Brochures, Tracts, Pamphlets or the like Published by a Political Party
  • Do's and Don'ts of Making Donations to Political Parties – Checklist
• Acceptance of Donations by Political Parties & Tax Exemption to Political Parties
  • Definition of Political Party
  • Registration of Political Party with ECI
  • Entitlement of Registered Political Parties to Accept Donation
  • Filing of Reports of Contribution Received by Registered Political Party
  • Special Provisions Relating to Incomes of Political Parties
• How to Handle Income Tax Notices Received by Donors with Case Studies
  • How to Handle Income Tax Notices Received by Donors of RUPPs
  • Case Studies – Responses of Donors to Notices