Description
Taxmann Taxation of Political Donations 1st Edition 2023 by Srinivasan Anand G
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 80 GGB
Section 80 GGC
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