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Paribartan Electoral Trust
June 28 , 2021
1173 days
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- Paribartan Electoral Trust has anonymously disbursed Rs 3 crore it received from Birla Corporation in 2019-20 using electoral bonds.
- This is the first time that an electoral trust has taken the bonds route to disburse corporate donations to unnamed political parties.
- Association for Democratic Reforms (ADR) has alleged that the use of electrical bonds route is “against the spirit” of the Electoral Trusts Scheme, 2013 and Income Tax Rules, 1962.
Electoral Trusts Scheme, 2013
- Electoral Trust is a non-profit organization formed in India for orderly receiving of the contributions from any person.
- The scheme was notified by the Central Board of Direct Taxes (CBDT).
- The sole object of the electoral trust is to distribute the contributions received by it to the political party.
- These Electoral Trust companies are not allowed to accept contributions from foreign citizens or companies.
- The electoral trust may receive voluntary contributions from,
- An individual who is a citizen of India.
- A company which is registered in India.
- A firm or Hindu undivided family or an Association of persons or a body of individuals, resident in India.
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