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Official spending by the Election Commission of India and the Government of India was around Rs. 7,000-8,000 crores [2] —i.e. elections have become very expensive for political parties. The Association for Democratic Reforms (ADR) in a report published on 25 January 2017 states that the total declared income of national and regional parties ...
Political funding in India is a major concern under need for electoral reforms in India. The financing of the world's most extensive electoral process remains a perplexing issue, as the involvement of businesses in supporting both disclosed and undisclosed expenditures during elections has been a matter of public knowledge for a considerable period.
The Public Provident Fund (PPF) is a voluntary savings-tax-reduction social security instrument in India, [1] introduced by the National Savings Institute of the Ministry of Finance in 1968. The scheme's main objective is to mobilize small savings for social security during uncertain times by offering an investment with reasonable returns ...
Analysis of political parties' "Audited Accounts Contribution Statements" for the fiscal year 2017-18 ending on 31 March, which were duly submitted to both the Income Tax Department and the Election Commission of India reveals that BJP obtained electoral bonds amounting to ₹215 crore, whereas the Congress party received only ₹5 crore. It is ...
Part XV of the Constitution of India consists of Articles on Elections. [1] Article 324 of the Constitution provides that the power of superintendence, direction and control of elections to parliament, state legislatures, the office of president of India and the office of vice-president of India shall be vested in the Election Commission .
But tax exemption limit has been increased to ₹ 250,000 (US$2,900) from ₹ 200,000 (US$2,300) for those below the age of 60. Income tax exemption limit for senior citizens has been raised to ₹ 300,000 (US$3,500). Investment limit under Section 80C has also been increased to ₹ 150,000 (US$1,800) from the current ₹ 100,000 (US$1,200).
Interest paid by Infrastructure Development Fund under section 10(47) to non-resident or foreign company – 5% 194LC: Interest paid by Indian company or business trust on money borrowed in foreign currency under a loan agreement or long-term bonds – 5% 195: Interest or other amounts paid to non-residents or a foreign company (except under ...
Chief Electoral Officer is a statutory authority created for representing Election Commission of India for conducting elections in states and union territories of India. Constitution of India with introduction of Article 324 made the powers of Chief Electoral Officer(India) independent. Their duties and powers are bound under Section 13 A of ...