Section 135 — Deduction in respect of contributions given by any person to political parties
Old Act equivalent: Section 80GGC of IT Act 1961 Sub-part: Deductions from total income
Statutory Text
- (1) In computing the total income of an assessee, there shall be deducted, as per the provisions of this section, any sum paid by the assessee in the tax year to,—
(a) a research association which has as its object the undertaking of scientific research, or a University, college or other institution approved for the purposes of section 45(3)(a)(i) to be used for scientific research;
(b) a research association which has as its object the undertaking of research in social science or statistical research, or a University, college or other institution approved for the purposes of section 45(3)(a)(ii) to be used for research in social science or statistical research. (2) Deduction for contributions made as per sub-section (1) shall not be allowed, if—
(a) the gross total income of the assessee includes income which is charge able under the head “Profits and gains of business or profession”; or
(b) the contribution is made in cash exceeding ` 2000. (3) Deduction under sub-section (1)(a) and (b) shall not be denied merely on the ground that subsequent to the payment of such sum by the assessee, approval to such association, University, college, other institution referred therein has been withdrawn. (4) The claim of the assessee for a deduction in respect of any sum referred to in sub-section (1) in the return of income for any tax year filed by him, shall be allowed on the basis of information relating to such sum furnished by the payee to the prescribed income-tax authority or the person authorised by such author ity, subject to verification as per the risk management strategy formulated by the Board from time to time. (5) Where a deduction for any tax year has been claimed and allowed in respect of any payment of the nature referred to in this section, no deduction in respect of such payment shall be allowed under any other provision of this Act in any tax year. Deduction in respect of contributions given by companies to political parties.
Provisos
None.
Explanations
None.
Tables
Present in statutory text above — see formatted section.
Key Structure
- Applies to: All assessees (any person)
- Conditions: Contributions to political parties registered under section 29A of Representation of the People Act, 1951, or electoral trusts
- Time limits: Contribution during the tax year
- Monetary limits: Full amount of contribution is deductible
- Exceptions: Cash contribution not eligible; contribution must be to registered political party; local authorities and artificial juridical persons excluded
Cross-References
- Section 45
Amendment Notes
None noted from the extracted pages.