New Delhi: Days after announcement of Assembly election dates in 5 states, Rajya Sabha MP ND Gupta has written to Finance Minister Nirmala Sitharaman and demanded rolling out of reforms for ensuring greater probity & transparency in political funding/donations received by the parties.
The AAP lawmaker in his letter says that the Centre should reiterate in the ensuing Budget, via any circular or notification, that the funding to political parties by either voluntary donors or business houses remain in strict compliance with Section 13A of the Income Tax Act.
He said that if donations are received through digital mode and details about name and address of donors are ascertained, it will reduce duplicity and paperwork, promote transparency in political funding and encourage Political Parties to collect donations digitally through banking channel.
The lawmaker also showered praise on Modi government’s strong push for digital revolution and stringent measures to weed out black money from the system.
In the letter, the Rajya Sabha MP wrote, “Due to digital revolution triggered under Modi Government, presently the donors make contributions to Political parties through various digital/banking mode like UPI, credit cards, internet etc. where although there is no direct communication between the donor and political party but as regards the details about name & address of donors (making donation via digital mode) it is automatically captured by the Central KYC Records Registry (CKYCR) as mandated by Know your Customer Direction under the provisions of Prevention of Money-Laundering Act, 2002 and the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005 (referred as “PMLA Rules”).”
