§ 12
Chapter III — Incomes Which Do Not Form Part Of Total Income
Incomes not included in total income of political parties and electoral trusts
Income-tax Act, 2025
For tax purposes, certain incomes of political parties and electoral trusts are not included in their total income. These exempt incomes are listed in Schedule VIII, but only if specific conditions are met. If the conditions are not fulfilled, the income will be subject to tax.
- Conditions and exemptions are outlined in Schedule VIII.
📜 Official text of the section +
12. (1) In computing the total income of any political party or an electoral trust
for a tax year under this Act, any income enumerated in Schedule VIII shall not
be included, subject to fulfilment of conditions specified therein.
(2) Wherever the conditions referred to in Schedule VIII are not satisfied in any tax
year in respect of any income enumerated in the said Schedule, such income shall
be charged to tax under this Act for that tax year.
(3) The Central Government may make rules or issue notifications for the purposes
of this section as specified in Schedule VIII.
CHAPTER IV
COMPUTATION OF TOTAL INCOME
A.—Heads of income
Heads of income.
Plain-language summary — not the official text. Refer to the bare Act and confirm with a professional for your specific case.