New Delhi, Delhi, IndiaDec 22, 2016, 03.26 PM
More than 250 Indian political parties that were unlisted on December 21 for not participating in elections between 2005 and 2015 will have their finances looked into by taxmen.
The Election Commission, a body that administers the election processes in the country, unlisted 255 registered parties, though it doesn't have powers to deregister a party.
The Election Commission has asked Central Board of Direct Taxes (CBDT) to probe financial malfeasance in the account books of the dormant parties.
The CBDT will take "necessary action" against parties that are found violating Section 29B and 29C of the Representation of the People Act, 1951.
Section 29B states that every political party may accept any amount of contribution voluntarily offered to it by any person or company other than a Government company.
According to section 29C, the treasurer of a political party or any other person authorised by it shall, in each financial year, prepare a report on the contribution in excess of Rs 20,000 received by it from any person in that financial year; and contribution in excess of Rs 20,000 received by it from companies other than Government companies in that financial year.
The action has been taken seemingly to stem flow of black money during elections in the country.