What is the maximum limit prescribed by the Act for cash donation received by the Political Party registered with the Election Commission of India ?

CS Executive · Tax Laws and Practice · PYQS · December 2021
What is the maximum limit prescribed by the Act for cash donation received by the Political Party registered with the Election Commission of India ?
(A) ₹10,000
(B) ₹1,500
(C) ₹2,000
(D) ₹20,000

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Income Tax Act, 1961

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