Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Top Headlines »
Open DEMAT Account in 24 hrs
 March 31 deadline is getting near. How to save income tax with tax loss harvesting?
 45-day MSME payment rule: Impact and details of Section 43B(h) explained
 Small savings schemes that offer tax benefits of up to Rs 1.5 lakh under section 80C
 RE-OPENING OF CORRECTION WINDOW FOR MAY 2024 CA EXAMINATIONS
 Powerful Upgrades, Tally 12+1 months renewal Plan and Connected Services for your growing Business - March 2024
 How innovative solutions can help fix the Sec 43B conundrum for MSMEs
 Income Tax dept asks many individuals to explain high value transactions of FY20-21 as Updated ITR deadline nears
 Release Notes for TallyPrime and TallyPrime Edit Log Release 4.1 | What s New!
 Deadline to file updated ITR FY20-21 ends on March 31: Details on additional tax
 4 tax-planning mistakes to avoid this season
 ITR 2024: Here are 8 ways by which senior citizens can save on taxes this year

SC refuses petition of political parties seeking exemption of Income tax
November, 15th 2008

The Supreme Court refused to entertain a petition seeking an enquiry and also to examine the accounts of all the political parties who have failed to give details of the contribution received by them and getting the benefit of exemption from paying income tax.

A bench comprising Chief Justice K G Balakrishnan and Justice P Sathasivam dismissed the petition filed by Association of Democratic Reform praying for direction to the Union Government and Commissioner of Income Tax to initiate steps to take appropriate action against the defaulting political parties to recover the income tax due from them from the date of default till date.

The petitioner have also sought a direction to the Election Commission of India to furnish the list of all political parties registered with it who have not filed their contribution report in terms of section 29 C of the Representation of the Peoples Act 1951.

Submission of details of contribution by the political parties to the Income Tax Department was made mandatory till 2003 for enjoying the benefit of Section 13 A of the Income Tax Act According to the petitioner at present there are more than 900 political parties existing in the country which include National, State and unrecognised parties and it is not known how many of them are complying with the statutory mandate of Section 29 C of the RPF.

The petitioner had earlier filed an application under RTI act seeking information from the Election Commission of India seeking detail of the contribution received by 21 National and State level parties.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting