CMA Final · Direct Tax Laws and International Taxation · Assessment of Companies
Under section 136 of the Income-tax Act, 2025, the meaning of the word 'contribute' for political party contributions is taken from which law?
The meaning is taken from section 182 of the Companies Act, 2013. Section 136(2) of the Income-tax Act, 2025 says that 'contribute' and its cognate expressions have the same meaning as in that Companies Act section. The Representation of the People Act is used only for party registration.
- ASection 182 of the Companies Act, 2013Correct
- BThe Representation of the People Act, 1951 alone
- CThe Insolvency and Bankruptcy Code, 2016
- DThe Foreign Exchange Management Act, 1999
Explanation
Section 136(2) states that 'contribute' and its grammatical variations have the meaning assigned in section 182 of the Companies Act, 2013. The Representation of the People Act is referred to only for registration of the party under section 29A.
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