Political party funding transparency: required reporting of contributions above a prescribed threshold and tax relief tied to compliance. Sections 29B and 29C authorize political parties to accept voluntary contributions from persons and companies subject to the Companies Act, but prohibit contributions from foreign sources; key terms are defined and certain government-funded entities are excluded. Treasurers must annually report contributions above a prescribed threshold from persons and from non-government companies in a prescribed form to the Election Commission by the party's income-tax return due date, and failure to submit the report deprives the party of tax relief under the Income-tax Act.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Political party funding transparency: required reporting of contributions above a prescribed threshold and tax relief tied to compliance.
Sections 29B and 29C authorize political parties to accept voluntary contributions from persons and companies subject to the Companies Act, but prohibit contributions from foreign sources; key terms are defined and certain government-funded entities are excluded. Treasurers must annually report contributions above a prescribed threshold from persons and from non-government companies in a prescribed form to the Election Commission by the party's income-tax return due date, and failure to submit the report deprives the party of tax relief under the Income-tax Act.
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