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of <h1>Electoral Trusts Must Adhere to Rule 17CA: No Foreign Funds, 5% Cap on Admin Costs, Strict Reporting Required</h1> Electoral trusts, as outlined in Rule 17CA of the Income Tax Rules, 1962, are entities that receive voluntary contributions from Indian citizens, companies, firms, or associations. They must issue receipts for contributions, which cannot be accepted from foreign entities or government companies. Contributions must be made via cheque, bank draft, or electronic transfer, and cannot be in cash. Trusts must distribute funds only to eligible political parties and are limited to spending 5% of contributions on administrative expenses. They must maintain detailed records, undergo audits, and report to tax authorities annually, ensuring transparency and compliance.
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