Section 80GGB - Deduction in respect of contributions given by companies to political parties or an electoral trust - Income-tax Act, 1961

1 [Deduction in respect of contributions given by companies to political parties 2 [ or an electoral trust]. 80GGB. 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 2 [ or an electoral trust ] . 3 [ 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). ******************* Notes :- 1. Inserted by the Election and Other Related Laws (Amendment) Act, 2003, w.e.f. 11-9-2003. 2 . Inserted vide Finance (No.2) Act, 2009, w.e.f. 1-4-2010 3. Inserted vide Finance Act, 2013, w.e.f.1st day of April, 2014