https://www.taxtmi.com/article/detailed?id=2099 Electoral trusts are non profit companies approved by the Board to receive voluntary contributions and distribute them to registered political parties. Approval requires prescribed eligibility, Form A with supporting documents, rectification of defects within specified periods, inquiry and hearing procedures, and Board discretion to grant, condition, reject or withdraw approval. Trusts must accept only permitted contributors and non cash payments, issue detailed receipts, maintain books and contributor/beneficiary lists, obtain audited accounts and notify changes. A limited portion of receipts may fund management; distributable amounts must be passed to eligible political parties and, if compliant, contributions are excluded from the trust's total income. en-us Fri, 05 Apr 2013 23:39:56 +0530 Fri, 05 Apr 2013 23:39:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=2099 Electoral trusts are non profit companies approved by the Board to receive voluntary contributions and distribute them to registered political parties. Approval requires prescribed eligibility, Form A with supporting documents, rectification of defects within specified periods, inquiry and hearing procedures, and Board discretion to grant, condition, reject or withdraw approval. Trusts must accept only permitted contributors and non cash payments, issue detailed receipts, maintain books and contributor/beneficiary lists, obtain audited accounts and notify changes. A limited portion of receipts may fund management; distributable amounts must be passed to eligible political parties and, if compliant, contributions are excluded from the trust's total income. Articles Income Tax Fri, 05 Apr 2013 23:39:56 +0530 https://www.taxtmi.com/article/detailed?id=2099