Specified contributor threshold tightened, disqualifying larger donors; relatives and substantial interest concerns excluded from specified person treatment. Clause (b) of sub-section (3) is revised to classify as a specified person anyone whose contribution in the relevant previous year exceeds the applicable annual threshold or whose aggregate contributions up to that year exceed the applicable cumulative threshold; clause (d) is amended to exclude relatives of such contributors from being treated as specified persons; and clause (e) is amended so that concerns in which such contributors have substantial interest are not treated as specified persons. The amendments are effective from the start of the coming fiscal year.
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Specified contributor threshold tightened, disqualifying larger donors; relatives and substantial interest concerns excluded from specified person treatment.
Clause (b) of sub-section (3) is revised to classify as a specified person anyone whose contribution in the relevant previous year exceeds the applicable annual threshold or whose aggregate contributions up to that year exceed the applicable cumulative threshold; clause (d) is amended to exclude relatives of such contributors from being treated as specified persons; and clause (e) is amended so that concerns in which such contributors have substantial interest are not treated as specified persons. The amendments are effective from the start of the coming fiscal year.
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