Part XIV - AMENDMENTS TO CERTAIN ACTS TO PROVIDE FOR MERGER OF TRIBUNALS AND OTHER AUTHORITIES AND CONDITIONS OF SERVICE OF CHAIRPERSONS, MEMBERS, ETC. (From Section 156 to Section 189)
Disclosure of corporate political contributions now requires reporting in profit and loss and payment by specified account-payee instruments. The amendment requires every company to disclose in its profit and loss account the total contributions made under section 182 for the financial year and limits such contributions to account payee cheque, account payee bank draft, or electronic clearing system through a bank account, while permitting contributions by instruments issued under schemes notified under law for political party contributions.
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Provisions expressly mentioned in the judgment/order text.
Disclosure of corporate political contributions now requires reporting in profit and loss and payment by specified account-payee instruments.
The amendment requires every company to disclose in its profit and loss account the total contributions made under section 182 for the financial year and limits such contributions to account payee cheque, account payee bank draft, or electronic clearing system through a bank account, while permitting contributions by instruments issued under schemes notified under law for political party contributions.
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