Section 11 - Amendment of section 13A. - Finance Act, 2017

Amendment of section 13A. 11. In section 13A of the Income-tax Act, with effect from the 1st day of April, 2018,- (I) in the first proviso,- (i) in clause (b),- (A) after the words such voluntary contribution , the words other than contribution by way of electoral bond shall be inserted; (B) the word and occurring at the end shall be omitted; (ii) in clause (c), the word ; and shall be inserted at the end; (iii) after clause (c), the following clause shall be inserted, namely:- (d) no donation exceeding two thousand rupees is received by such political party otherwise than by an account payee cheque drawn on a bank or an account payee bank draft or use of electronic clearing system through a bank account or through electoral bond. Explanation . For the purposes of this proviso, electoral bond means a bond referred to in the Explanation to sub-section (3) of section 31 of the Reserve Bank of India Act, 1934: ; (2 of 1934) (II) after the second proviso, the following proviso shall be inserted, namely:- Provided also that such political party furnishes a return of income for the previous year in accordance with the provisions of sub-section (4B) of section 139 on or before the due date under that section. .