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of <h1>Political Parties Can Receive Domestic Contributions, Must Report Annually to Election Commission with Detailed Financial Transparency</h1> Political parties are authorized to accept voluntary contributions from persons or companies, except from foreign sources. The legislation mandates that political parties must prepare and submit an annual financial report to the Election Commission detailing contributions exceeding twenty thousand rupees from individuals and companies. Failure to submit this report results in the loss of tax relief benefits. The provisions aim to enhance transparency in political party funding by establishing clear reporting requirements and restrictions on contributions.
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