Is it fair to spare political parties from income tax investigation?
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While whole nation is suffering from
difficulties of demonetization, another shitty announcement b y govt that
political parties depositing notes of Rs 500 and Rs 1000 will not be accounted
for by the income tax investigation It
is just like salt on the wound of common people who has no relation with scams
and black money and the political parties are free from taxes but the
individuals of political parties are still in radar of investigation dept
because where the money coming from anyone doesn’t know. According to Section
13A of the Income Tax Act, 1961, political parties are to be exempted from
income tax in respect to their income from house property, other sources,
capital gains and income by voluntary contributions received from any
individual.
This is not something that the Modi government has made. This law has existed always. It is wrong of people to be blaming government of trying to shield politicians from taxes and effects of demonetization. Anybody can contribute up to only 10000 rupees and the party has to keep record of it. Many times political parties have said so that they would reveal their funds soon at election times but this have never happened so.
If political parties can
deposit the demonetized notes into their party accounts without having to
reason or provide details of where the money came from, this open the worst
ever loophole for corrupt, black money to remain in their respective hands. Now
that anyone can deposit their black money into the account of a political party
without having to provide information on where the money came from, this will
simply slip off the money into the party account and get all sorts of political
favors which are the backbone of corruption in India. It is a known to all that
most form of black money, scams and corruption is led by political parties and
politicians. If they have the advantage of getting all their money exempted
from tax, the corruption and black money would not be eradicated from India.
Is it fair to spare political parties from income tax investigation.
Political parties are required
foreign investigation Because the government has established the laws The
political parties are very much corrupted in our country does investigation
should happen. in the process of demonetization The ban of 500 and 1000
rupees can be evolved from politicians by investigating them. Political parties being exempt from taxes don’t seem to be
going down well with people. They believe that political parties shouldn’t have
been spared while people who have nothing to do with scams and black money are
facing the worst days of their lives.
The political parties are free from Tax`s they are only
having the free account which is free from tax It is fair for all the common
peoples because of political parties have different donation accounts Which
does not have any data from where it comes from The funds and the donations all
come under the accounts of hand if they misuse it no one
will have the information Where the money is gone. it will be well very
useful for the common people because in the corruption the only one who is
Suffer is common people , political parties are to be exempted from
income tax in respect to their income from house property, other sources,
capital gains and income by voluntary contributions received from any
individual. This is not something that the Modi government has framed.
This law has existed always. It is wrong of people to be
blaming government of trying to shield politicians from taxes and effects of
demonetization. The contributions can be made into the account of political
parties only up to Rs. 10,000 per person. If the amount voluntarily contributed
is more than that, the party needs to keep record of the person who made the
contribution and the income tax department is welcome to look into these
records.
This seems fair enough and provides no grounds for anyone to
blame the government for being tolerant to political parties. There have been various claims that the political parties
need to reveal the source of their funds that they use during election
campaigns but that has had no effects. This, however, can change a few things
as political parties will be able to retain funds but individual politicians
will be under scrutiny. This could lead to transparency in near future. The
source of the black money might remain unidentified but with all the money in
banks instead of in other forms to be used during elections, parties will have
to be careful on how they spend it.
They will be accountable for how much they spend in elections
which is what people are mostly asking for. Exempting political parties from
taxes to encourage them to deposit everything in their party account is going
to be beneficial in the long run. Anyone
can deposit their black money into the account of a political party without
having to provide information on where the money came from, this has opened
doors for all sorts of favoritism and vote polarization to prevail. They will
simply slip off the money into the party account and get all sorts of political
favors which are the backbone of corruption in India. Its is the bad factor of
demonetization.
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