Corporates poll funding could be as high as 50 pc: Jindal
Assocham suggests contributions to be exempted from income tax.
By PTI |
NEW DELHI: Estimating corporate funding to the political parties as high as 50 per cent of their election expenses, industry chamber Assocham suggests these contributions to be exempted from income tax.
"There should be total transparency in corporates funding political parties. And this should be tax exempted," Assocham President and industrialist Sajjan Jindal said today.
"It (corporate funding) could be as much as 50 per cent," Jindal said over telephone.
Earlier during the day, he released the chamber's suggestions for political parties' election manifestos.
At the release function, he said political parties should inform the Election Commission about contributions they receive with full details of amount exceeding Rs 1 lakh on regular basis.
"Central and state governments should create election fund from which registered political parties receive assistance," he added.
The chamber further suggested that national security, plans of investments in infrastructure and administrative reforms should be the fundamentals of the election manifestos.
In the dozen point agenda for manifesto of the political parties the chamber has asked for tax brakes for India Inc, reforms in labour laws, review of Income Tax Act and execution of GST by 2010.
"There should be total transparency in corporates funding political parties. And this should be tax exempted," Assocham President and industrialist Sajjan Jindal said today.
"It (corporate funding) could be as much as 50 per cent," Jindal said over telephone.
Earlier during the day, he released the chamber's suggestions for political parties' election manifestos.
At the release function, he said political parties should inform the Election Commission about contributions they receive with full details of amount exceeding Rs 1 lakh on regular basis.
"Central and state governments should create election fund from which registered political parties receive assistance," he added.
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The chamber further suggested that national security, plans of investments in infrastructure and administrative reforms should be the fundamentals of the election manifestos.
In the dozen point agenda for manifesto of the political parties the chamber has asked for tax brakes for India Inc, reforms in labour laws, review of Income Tax Act and execution of GST by 2010.
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