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“It certainly is a commendable move by the EC. We are keenly looking at our party’s stand at the national level,” said BJP leader S Suresh Kumar.”
The Congress and BJP have about Rs 1,000 crore in their coffers. But our party has hardly Rs 2.5 crore. So we would want the EC to crack down on large amounts of donations from unknown sources, given to major parties,” said JD(S) MLA YSV Datta.
Political party sources said of late, political funding in Karnataka is coming largely from real estate firms, some industrialists and corporates. A few years ago, mining barons were the major contributors but it ended with the Supreme Court placing a ban on iron ore mining in the districts of Ballari, Tumakuru and Chitradurga.
Political parties, according to the Representation of People’s Act, 1951, will have to announce particulars of contributors who donate more than Rs 20,000 to their funds. The EC now wants the Union government to reduce the limit from Rs 20,000 to Rs 2,000, through an amendment.
Under Section 13A of the Income Tax Act, political parties are exempt from paying I-T but are required to file their Income Tax Returns (ITR) only for donations above Rs 20,000. “This is being misused by all major political parties. A close look at I-T returns filed by political parties in Karnataka clearly suggests that maximum donations are from such unknown sources and there are no names of prominent corporate heads, real estate barons or industrialists in the list of donors. Also, many fund candidates directly rather than give to parties they represent, to escape public and tax net,” said a senior party leader, who has worked as party treasurer.
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(Sourced from agencies, feature image courtesy:oneindia.com)
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