For the income of a political party to be excluded from its total income under section 12 read with…

Section 12 of the Income-tax Act, 2025 excludes the income listed in Schedule VIII, and Schedule VIII (Table: Sl. No. 1) applies to a political party registered under "Section 29A of the Representation of the People Act, 1951". Registration only identifies the eligible party; the exclusion also depends on conditions such as keeping books of account, audit of accounts, restrictions on donations above Rs. 2,000 otherwise than through banking or electronic channels, and filing the return of income.