The Bihar Post

Delay in filing audited returns may lead to political parties lose tax exemptions

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New Delhi: Political parties have to file audited returns by December every year or risk losing tax exemptions, said Revenue Secretary Hasmukh Adhia, according to media reports on Thursday.

He alleged that many political parties do not file their Income Tax returns on time yet continue to enjoy exemption from payment of income tax, media reported.

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On Wednesday, Union Minister for Finance and Corporate Affairs Arun Jaitely while presenting the General Budget 2017-18 in Parliament said that a political party will have to file its Income-Tax Return within the prescribed time limit.

IBNS

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