Why was the cong plea rejected? Not properly complying with the proviso of the act u/s 13 A as
A political party that wants to claim tax exemption under Section 13A must meet the following requirements: - It must be registered under Section 29A of the RPA. - It must keep books of account and other documents that allow the Assessing Officer to compute its income. It should be noted that a political party does not need to keep all the books of the account specified under Section 44AA. It is enough if it keeps only those books that help the AO determine its income. - It must record every contribution of more than Rs 20,000 along with the name and address of the contributor unless the contribution is made through an electoral bond. - It must have its books of account audited by a chartered accountant - It must not have received any donation of more than Rs 2,000 except by way of account payee cheque/demand draft or ECS or through a bank account or electoral bond - The treasurer of the political party or any person authorized by the party for this purpose must submit a report of donations received above Rs 20,000 to the Election Commission of India for the financial year on or before the due date for furnishing the return of income for that financial year under Section 29C of RPA. While Section 13A states that no tax relief will be given for non-submission of such a report, it should be noted that Section 29C of RPA itself denies tax relief to a political party if it fails to submit such a report. KR IRS 2424 On Mon, 1 Apr 2024 at 22:01, Narayanaswamy Sekar <[email protected]> wrote: > > > > https://www.opindia.com/2024/04/what-led-the-it-dept-to-send-notices-of-demands-worth-rs-3567-crs-congress/ > > > -- > You received this message because you are subscribed to the Google Groups > "Thatha_Patty" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to [email protected]. > To view this discussion on the web visit > https://groups.google.com/d/msgid/thatha_patty/CABC81ZeU%2BG1BSQnpainGhtc44Bt52DPAPPVzJ8vmSCB-duGftw%40mail.gmail.com > <https://groups.google.com/d/msgid/thatha_patty/CABC81ZeU%2BG1BSQnpainGhtc44Bt52DPAPPVzJ8vmSCB-duGftw%40mail.gmail.com?utm_medium=email&utm_source=footer> > . > -- You received this message because you are subscribed to the Google Groups "Thatha_Patty" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To view this discussion on the web visit https://groups.google.com/d/msgid/thatha_patty/CAL5XZopBnnJLr1X6MhiFM%3D8uFkwTLU4R2b9exixQRaRvm61emw%40mail.gmail.com.
