⁹⁷[Deduction in respect of contributions given by companies to political parties.

80GGB.  In computing the total income of an assessee, being an Indian company, there shall be deducted any sum contributed by it, in the previous year to any political party ⁹⁸[or an electoral trust].

Explanation.For the removal of doubts, it is hereby declared that for the purposes of this section, the word contribute, with its grammatical variation, has the meaning assigned to it under section 293A⁹⁹ of the Companies Act, 1956 (1 of 1956).