Alternating and random copolymers of carbazole and triphenylamine containing polychalcones are prepared by adopting simple Claisen–Schmidt route via A2 + B2 approach. Terephthaldehyde derivative was used as an additional comonomer along with bisaldehyde of triphenylamine to obtain a random copolymer. The prepared polymers are readily soluble in common organic solvents and the polymers exhibited narrow poly dispersity. The polymers are thermally stable and no observable degradation is observed until 350°C. Further, the spin cast thermally annealed films on glass substrate indicated corrugated surface as measured by scanning electron microscope and atomic force microscopy, which could facilitate for greater interaction at the interfaces. Photophysical properties of the polymers in solution and in thin film showed excellent emission characteristics. Both alternating and random copolymers showed a high quantum yield of 0.74 on comparison with quinine sulfate. Polychalcones with triphenylamine/carbazole showed oxidative response in cyclic voltammetry which suggested the suitability as electrochemical sensors and antioxidant coating material.