NEW DELHI, Oct 14:
The Election Commission has written to the Government suggesting amendments to the election law to make it mandatory for political parties to declare monetary contributions received from foreign companies and government bodies.
Official sources said the EC wrote to the Law Ministry recently to revise the format of reporting of monetary contributions that are declared by political parties in ‘Form 24 A’ under section 29 of the Representation of People Act.
The Commission has suggested the changes in the reporting pattern after consultations with the Central Board of Direct Taxes (CBDT).
The EC, the sources said, has suggested that political parties should be asked to furnish details about contributions (by way of cash or cheque) received from foreign companies and also those from government bodies.
They said the Commission has asked for the revision of the documenting procedures in order to make transparent issues relating to financial contributions made to political parties and their sources of funding.
The EC has suggested that any contribution received by political parties should have audit reports attached to their declarations and should specify what amount they received in cheques and how much was paid in cash.(PTI)
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