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Political parties exempted from tax on deposits of Rs 500, Rs 1,000

<p>The exemption is applicable if the party keeps books and other documents and are audited by a Chartered Accountant</p>

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The income could be from house property, other sources, capital gains and voluntary contributions

The income could be from house property, other sources, capital gains and voluntary contributions

The income could be from house property, other sources, capital gains and voluntary contributions
The income could be from house property, other sources, capital gains and voluntary contributions

New Delhi: As it levies stiff penalties on unaccounted cash in banks, the government yesterday said political parties depositing old Rs 500 and Rs 1000 notes in their accounts will be exempt from income tax.

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