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Political parties need to to file audited returns by Dec to avail tax benefit

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New Delhi: Political parties have to file audited returns by December every year or risk losing tax exemptions, said revenue secretary Hasmukh Adhia on Thursday.

Donations to political parties via electoral bonds will be confidential, donor’s identity not to be disclosed, he added.

Announcing the Union Budget on Wednesday, Finance Minister Arun Jaitley said that political parties can now receive only Rs 2000 as donation in cash from one source.

For any donation above Rs 2,000, parties will have to disclose the identity of the donor.

Donations to political parties via electoral bonds will be confidential, and the donor’s identity not to be disclosed, the revenue secretary added.

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