Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: due date for vat payment :: empanelment :: cpt :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: TDS :: form 3cd :: VAT RATES :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit
 
 
General »
 Top House tax writer suggests measures to mitigate the impact of the border tax
 Consumer goods distributors, wholesalers to bear the brunt of GST
 GST classification woes to continue
 There will be no tax on farm or agriculture income
 RBI, Income Tax Acts to be amended for electoral bonds, Jaitley says
  Clarifications on the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016
 I-T zeroes in on Mumbai trader in first crackdown after demonetisation
  Tax queries answered by Dilip Lakhani, Senior Chartered Accountant
 Income Tax Department Failed To Unearth Black Money Despite Information
 Govt filing twice as many cases as private cos in Supreme Court
 Taxes under GST 'to increase a bit', says CBEC Chairman

Rs 1,381 crore of tax exemption to political parties in two years: RTI
October, 20th 2014

The tax-exempted income of 13 major political parties of the country, in last two years, amount to Rs 1,381 crore, according to an RTI query.

Of this the Congress and BJP have cornered around 80 per cent.

During 2012-13 and 2013-14, the Congress had a tax- exempted income to the tune of Rs 743.76 crore whereas BJP in the same time span did for Rs 338.95 crore.

Congress in 2012-13 had income worth Rs 318.08 crore whereas the amount rose to Rs 425.68 crore in 2013-24, BJP though had an income of Rs 17.42 crore in 2012-13 and it was Rs 321.53 crore for 2013-14.

According to the Income-Tax department, Mulayam Singh Yadav's Samajwadi Party in UP had tax-exempted income worth Rs 164 crore whereas their rival party Bahujan Samajwadi party had registered only Rs 20.76 crore for the same period.

Among other parties, CPI(M) registered an income of Rs 92.90 crore, CPI Rs 2.62 crore, JD(U) Rs 13 crore and RLD Rs 4.48 crore, it said.

Lalu Prasad's RJD party in 2013-14 had a tax-exempted income of Rs 41,411.

The figure for the year 2012-13 for other parties were -- SP (Rs 30 crore), BSP (Rs 8.99 crore, CPI (Rs 1.55 crore), CPI(M) (Rs 40.73 crore), JD(U) (Rs 2.70 crore), RLD (Rs 97.90 lakh), JD(S) (Rs 46.99 lakh).

Political parties are exempted from tax on their income through section 13 A of IT Act 1961. They have to, however, maintain a book of account for donations or income above Rs 20,000.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Customer relationship management software CRM software Operational CRM Collaborative CRM

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions