https://www.taxtmi.com/acts?id=12631 Section 293A prohibits Government companies and companies under three financial years from making political contributions; other companies may contribute subject to an aggregate limit based on average net profits for the preceding three years and only if authorised by a Board resolution. The section deems certain donations and political advertising expenditure to be contributions, requires disclosure of contributions in the profit and loss account with recipient particulars, and prescribes penalties including corporate fines and criminal liability for officers in default. "Political party" is defined by registration under the Representation of the People Act. en-us Fri, 13 May 2011 11:50:50 +0530 Fri, 13 May 2011 11:50:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12631 Section 293A prohibits Government companies and companies under three financial years from making political contributions; other companies may contribute subject to an aggregate limit based on average net profits for the preceding three years and only if authorised by a Board resolution. The section deems certain donations and political advertising expenditure to be contributions, requires disclosure of contributions in the profit and loss account with recipient particulars, and prescribes penalties including corporate fines and criminal liability for officers in default. "Political party" is defined by registration under the Representation of the People Act. Act-Rules Companies Law Fri, 13 May 2011 11:50:50 +0530 https://www.taxtmi.com/acts?id=12631