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Tuesday, 28 February 2017

Is it fair to spare political parties from income tax investigation?

By Dr. IM  |  09:23 No comments

Is it fair to spare political parties from income tax investigation?

-          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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Author: Dr. IM

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