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The Tax Publishers Companies Act, 2013--Political Contribution Political Contributions by Corporates in the Light of Recent Supreme Court's Judgment CA. Deepak Harwani In the present article the learned author discusses about the recent judgment rendered by Supreme Court, in the case of Association of Democratic Reforms v. Union of India [Writ Petition (C) No. 880 of 2017 with Writ Petition (C) No. 59 of 2018, Writ Petition (C) No. 975 of 2022, Writ Petition (C) No. 1132 of 2022, dt. 15-2-2024], in respect of Contributions made to the political parties by way of Electoral Bonds, the effect of the Judgment on Donors & list of orders provided along with. 1. History The amendment in Income Tax law and company law was earlier made by Finance Act, 2017 to introduce the concept of Political Contribution by way of electoral bonds, whereby Individuals and Companies can purchase electoral bonds from State Bank of India & donate to the respective Political Party as per their choice. These electoral bonds being a form of bearer instrument(s) can be exchanged by way of cash. SUBSCRIBE FOR FULL CONTENT

The Tax Publishers

Companies Act, 2013--Political Contribution

Political Contributions by Corporates in the Light of Recent Supreme Court's Judgment

CA. Deepak Harwani

In the present article the learned author discusses about the recent judgment rendered by Supreme Court, in the case of Association of Democratic Reforms v. Union of India [Writ Petition (C) No. 880 of 2017 with Writ Petition (C) No. 59 of 2018, Writ Petition (C) No. 975 of 2022, Writ Petition (C) No. 1132 of 2022, dt. 15-2-2024], in respect of Contributions made to the political parties by way of Electoral Bonds, the effect of the Judgment on Donors & list of orders provided along with.

1. History

The amendment in Income Tax law and company law was earlier made by Finance Act, 2017 to introduce the concept of Political Contribution by way of electoral bonds, whereby Individuals and Companies can purchase electoral bonds from State Bank of India & donate to the respective Political Party as per their choice. These electoral bonds being a form of bearer instrument(s) can be exchanged by way of cash.