Cash donation limit to parties slashed to Rs 2000

February 01, 2017 12:48

Jaitley announces that maximum cash donation to political parties can be Rs 2000, down from the current Rs 20,000.

Political parties can receive donations only by cheque/digital mode.

Electoral bonds to be issued, which can be bought from banks by donors only through cheques/digital modes, and redeemable only in the account of registered political parties.

Every political party will have to file returns in accordance with the I-T Act, and exemption from income tax will be available only on compliance with these requirements.

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