All political parties will have to file audited returns by December if they wish to enjoy tax exemptions, Revenue Secretary Hasmukh…
Hasmukh Adhia (Photo: PIB)
All political parties will have to file audited returns by December if they wish to enjoy tax exemptions, Revenue Secretary Hasmukh Adhia said on Thursday.
“Political parties have to file audited returns by Dec every year or risk losing tax exemptions,” Adhia said a day after Finance Minister Arun Jaitley presented the Union Budget which proposed to ban cash donations above Rs.2,000 for political parties.
The revenue secretary further said that all donations to political parties via electoral bonds will be confidential and the donor's identity will not be disclosed.
Advertisement
“Finance Bill will amend Representation of People Act to keep identity of donors using electoral bonds confidential,” he said.
Advertisement
