-The Hindu Business Line
No special treatment for political parties, clarifies Jaitley
New Delhi: Political parties registered with the election commission may not necessarily escape scrutiny of their returns with regard to deposits of old demonetised notes just because they are exempted from taxation under Section 13 A of income tax law.
For political parties to gain exemption under Section 13 A, certain conditions have to be met.
Also, there are "enough provisions" in the income tax law to scrutinise the accounts of political parties, which are also subject to other provision including filing of returns, the Central Board of Direct Taxes (CBDT) said in a clarificatory statement.
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