Political parties must file ITR by Dec or lose exemption: Govt

February 02, 2017 13:41

After capping anonymous cash donations to political parties at Rs 2,000, the government is amending law to make it mandatory for them to file returns on income by December every year or risk losing tax exemption status. It is also changing the law to keep the identity of the donor confidential who buys the just-introduced electoral bonds from banks to make such donations.

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