Special provision relating to incomes of political parties Any income of a political party which is chargeable under the head 2
]" Income from house property" or" Income from other sources" or any income by way of voluntary contributions received by a political party from any person shall not be included in the total income of the previous year of such political party: Provided that-
such political party keeps and maintains such books of account and other documents as would enable the 3
Assessing] Officer to properly deduce its income therefrom;
in respect of each such voluntary contribution in excess of ten thousand rupees, such political party keeps and maintains a record of such contribution and the name and address of the person who has made such contribution; and
the accounts of such political party are audited by an accountant as defined in the Explanation below sub- section (2) of section 288.
Explanation.- For the purposes of this section," political party" means an association or body of individual citizens of India registered with the Election Commission of India as a political party under paragraph 3 of the Election Symbols (Reservation and Allotment) Order, 1968 , and includes a political party deemed to be registered with that Commission under the proviso to sub- paragraph (2) of that paragraph.
CHAP COMPUTATION OF TOTAL INCOME. CHAPTER IV COMPUTATION OF TOTAL INCOME Heads of income