Home > Income Tax Act 2025 > Schedule VIIILast Updated: Oct 08th 2025
"Schedule VIII" provides for Income Not To Be Included In The Total Income Of Political Parties And Electoral Trusts. Learn to understand the "Schedule VIII" as it is, it's help and useful links to follow.
Here onwards, "Act" refers to "Income Tax Act 2025"
In computing the total income of a tax year of any eligible person, being a political party or an electoral trust, as mentioned in column C of the Table below, the income mentioned in column B of the said Table shall not be included, subject to the conditions mentioned in column D of the said Table, and the expressions used in columns B to D of the said Table, shall have the meanings respectively assigned to them in the Note below the said Table:
Sl No. | Income not to be included in total income | Eligiblepersons | Conditions |
---|---|---|---|
A | B | C | D |
1 | Any income which is chargeable under the head "Income from house property" or "Income from other sources" or "Capital gains" or any income by way of voluntary contributions received from any person. | A political party registered under section 29A of the Representation of the People Act, 1951 (43 of 1951). |
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2 | Anyvoluntarycontributionsreceived. | An electoral trust. |
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Note.—For the purposes of this Schedule, "electoral bond" means a bond referred to in the Explanation to section 31(3) of the Reserve Bank of India Act, 1934 (2 of 1934).
Disclaimer: This article provides an overview and general guidance, not exhaustive for brevity. Please refer Income Tax Act, GST Act, Companies Act and other tax compliance acts, Rules, and Notifications for details.