Increasing income of political parties


NIRJESH GAUTAM 11/04/2018 16:54:03
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Increasing income of political parties- Newstimes news

New Delhi, Apr 11: A press release by Association for Democratic Reforms on Wednesday reported about the increment in the income generation of the national political parties: Indian National Congress and Bhartiya Janta Party. However, both of the parties are yet to submit their IT return for the current financial year to the Election Commission of India.

 

Income of national parties in fiscal year 2015-2016:-

1. The income of BJP was highest among all the National Parties; 570.86cr, more than the budget allocation for converting district hospitals into medical colleges in Uttar Pradesh.

2. The second in the race is INC, earning 261.56cr in the period.

 

Income of national parties in fiscal year 2016-2017:-

1. The total income declared by National Parties (BSP, CPM, NCP, AITC, CPI) in     their IT return for financial year 2016-2017 turn out to be 299.54 cr.

2. BSP is the highest earning party with an increment of 233.32% as compared to their income for the fiscal year 2015-2016.

3. Despite the section 13(A) of the IT Act which awards tax exemption to registered political parties provided their IT return to be furnished on or before the due date and a potential threat of de-recognition of party, INC and BJP are yet to submit their IT Returns.

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