Scheme for Transparency In Electoral Funding, Indian Budget 2017-18

 

Indian  Budget 2017-18, Schemes for Transparency In Electoral Funding

 

Scheme for Transparency In Electoral Funding, Indian Budget 2017-18Indian budget highlights on schemes for Transparency In Electoral Funding is extracted below:

 

Need to cleanse the system of political funding in India

Maximum amount of cash donation, a political party can receive, will be ` 2000/- from one person.

Political parties will be entitled to receive donations by cheque or digital mode from their donors.

Amendment to the Reserve Bank of India Act to enable the issuance of electoral bonds in accordance with a scheme that the Government of India would frame in this regard.

Every political party would have to file its return within the time prescribed in accordance with the provision of the Income-tax Act

Existing exemption to the political parties from payment of income-tax would be available only subject to the fulfilment of these conditions

 

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