Sunday, September 23 2018

January 23, 2018

Cash donation of over Rs 2000 to a political party will be prohibeted

Income Tax Department said no person can make a cash donation of over two thousand rupees to a political party. IT Dept warned people against indulging in illegal cash transactions including donation of more than two thousand rupees in cash to political parties. The IT Department has published advertisements in leading dailies in this regard.To clean up election funding, the government had recently notified electoral bonds that can be bought from specified branches of the SBI and used to donate money to political parties.One should also not pay more than ten thousand rupees in cash relating to the expenditure of business or profession said IT Dept.