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No Tax For Political Parties Depositing Old Notes In Banks
Rashid M A
16 Dec 2016 11:13 PM IST
Revenue secretary Hasmukh Adhia reportedly said that the political parties depositing demonetised currency notes in their accounts are exempted from income tax.According to PTI report, the tax exemption on deposits by political parties is subjected to individual donations not exceeding Rs 20,000 in cash and with proper receipt."If it is a deposit in the account of a political party, they...
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