(SPAM) New Amendment to exempt Political Parties from Income Tax
This is NOT a new amendment. Its an existing Section 13A of Income Tax Act. Please find more details at the verification section of this article.
Post Information:
Below post has been circulating on social media
Instead of 200% penalty and 30% tax. All political parties are now exempted from tax and penalties. No questions asked, all black money of political parties is instantly white.
Laws and amendments take years in Parliament to be passed. This IT amendment was done in “hours” and even president passed it immediately.
Final nail to the coffin of failed demonetization move. Government is now completely exposed.
Khel khatam! Paisa
Verification:
Its not a new amendment. Existing Section 13A of the Income Tax act exempts political parties from Income Tax provided they maintain books of accounts and record details of individuals making donations over Rs. 20,000.
Please find a mainstream media report on this story after the rumour.
Post date: 18 Dec 2016
Post ID: #1769
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