Section 139(4B) deals with requirement for filing return of income by political parties. Return u/s 139(4B) is required to be filed by a political party, if the total income without giving effect to the provisions of S. 139A exceeds the maximum amount which is not chargeable to income tax.
As Per 139(4B), of the Income Tax Act, 1961-
Return of income
139(4B). The chief executive officer (whether such chief executive officer is known as Secretary or by any other designation) of every political party shall, if the total income in respect of which the political party is assessable (the total income for this purpose being computed under this Act without giving effect to the provisions of section 13A) exceeds the maximum amount which is not chargeable to income-tax, furnish a return of such income of the previous year in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed and all the provisions of this Act, shall, so far as may be, apply as if it were a return required to be furnished under sub-section (1).