Section 37(2B) - Payment made to Political Party - Income Tax - Ready Reckoner - Income Tax

Section 37(2B) : Payment made to Political Party Any expenditure on advertisement in any souvenir, brochure, tract pamphlet or the like published by a political party shall not be allowed as deduction. Note: Donations to political party and electoral trust are disallowed since such donation cannot be said to be expenditure incurred for the purposes of business or profession. Donations to political party and electoral trust are allowed as deduction under section 80GGB and 80GGC of the Income Tax Act.