Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: empanelment :: VAT RATES :: form 3cd :: list of goods taxed at 4% :: due date for vat payment :: cpt :: TDS :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company
 
 
Indirect Tax »
 What is a belated income tax return and what are its consequences
 Why rejig of financial year could upset your tax planning
 The threat of harsh penalty should not impede tax compliance
 What are the tax exemption limits for allowances, reimbursements paid to employees? Find out
 High-income taxpayers to get priority treatment and extra facilities
 GST input tax credit rules: How taxpayers will benefit from ITC
 More complications in filing income tax returns
 Guidelines for selection of cases for scrutiny during the financial-year 2017-2018
 CBDT asks Income Tax officials to pull their socks up as revenue collection not satisfactory
 Nearly 15 pct growth in direct tax collections for fiscal 2017-18
 Transformation of indirect taxation landscape

India Inc forms companies to fund politics, tax free
December, 17th 2013

Companies have already begun to work out their exposure to political parties in the 2014 general elections.

Two corporate groups, Vedanta and Mahindra, have been first off the block to set up their electoral trust companies. The two entities — Janhit Electoral Trust and Mahindra Electoral Trust Company — were registered in August and December 2013, respectively, to make political donations, data bank of the ministry of corporate affairs shows.

While Janhit Electoral Trust was set up on August 8 in Tamil Nadu by the Vedanta Group, Mahindra Electoral Trust Company was set up as recent as December 9 in Maharshtra by Mahindra & Mahindra, as per the ministry.

Sources said that many big corporate houses, including the Tata Group, are in the fray to register as electoral trust company to avail of the tax benefits for political donations. The companies are disbanding their existing trusts to form these new companies.

These trusts will have to disclose the details of the amount contributed by them to any political party during the financial year.

"However, the group companies setting up such Section 25 firms will not have to disclose the name of the parties and amount contributed to them. It has been decided by the ministry that original company's contribution would not reflect the name of political parties who are beneficiaries of donations made by them," a government official told The Indian Express.

The development comes along with the recent notification whereby the ministry has done away with the ceiling on political funding by firms.

This paves way for funding by companies, which have been in existence for less than three years, overruling an earlier pre-condition.

The ministry, too, has amended its name availability guidelines to allow companies to set up non-profit companies, calling them electoral trust, after the Central Board of Direct Taxes launched electoral trust scheme in January 2013 to usher in transparency in corporate funding to the political parties.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System developers CMS developers Content Management Solutions CMS Solutions CMS India Content Management System India CMS development India Website CMS Website Content Management India Portal CMS India CMS Outsourcing CMS Vendor Complete CMS Custom CMS Services

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