Transparency in electoral funding: new donation modes and mandatory tax returns to curb cash donations by political parties.

Political parties must not accept donations at or above a specified monetary threshold otherwise than by an account-payee cheque, account-payee bank draft, electronic clearing system through a bank account, or by electoral bonds. A party must also furnish its income-tax return for the previous year in accordance with the statutory return-filing provision on or before the prescribed due date as a prerequisite for claiming tax exemption. Electoral bonds are an acceptable contribution mode and parties need not furnish donor name and address for contributions received by electoral bond.

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