Deduction in respect of contributions given by companies to political parties.

In computing the total income of an assessee, being an Indian company, there shall be deducted any sum contributed by it, in the previous year to any political party 9[or an electoral trust]:

² Ins. by Act 14 of 1982, s. 17 (w.e.f. 1-6-1982).

³ Subs. by Act 20 of 2002, s. 31, for “any sum paid by the assessee in the previous year” (w.e.f. 1-4-2003).

⁴ Ins. by Act 12 of 1990, s. 19 (w.e.f. 1-4-1991). 5. Ins. by Act 23 of 1983, s. 23 (w.e.f. 1-4-1983). 6. Ins. by Act 22 of 1995, s. 17 (w.e.f. 1-4-1996). 7. Ins. by Act 23 of 2012, s. 29 (w.e.f. 1-4-2013). 8. Ins. by Act 46 of 2003, s. 10 (w.e.f. 11-9-2003).

1. Explanation renumbered as Explanation 2 thereof by Act 29 of 2006, s. 11 (w.e.f. 1-4-2006).

⁹ Ins. by Act 33 of 2009, s. 34 (w.e.f. 1-4-2010).

1[Provided that no deduction shall be allowed under this section in respect of any sum contributed by way of cash.]

Explanation.—For the removal of doubts, it is hereby declared that for the purposes of this section, the word “contribute”, with its grammatical variation, has the meaning assigned to it under section 293A of the Companies Act, 1956 (1 of 1956).]