Political parties are liable to pay tax on their income and they are assessed as __________.

CS Executive · Tax Laws and Practice · PYQS · June 2021
Political parties are liable to pay tax on their income and they are assessed as __________.
(A) Association of persons
(B) Company
(C) Firm
(D) Artificial juridical person

Answer & Explanation:

Correct Answer: Option (A)

Official answer key: (A).

Topics: Income Tax Act, 1961

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