No tax exemption or privilege for political parties: Arun Jaitley

There are enough provisions in the I-Tax Act to scrutinise the accounts of political parties even though their income is tax exempt, the government said on Saturday. The clarification comes in the wake of several Opposition leaders questioning the government move to exempt political parties from income tax

New Delhi: There are enough provisions in the I-Tax Act to scrutinise the accounts of political parties even though their income is tax exempt, the government said on Saturday. The clarification comes in the wake of several Opposition leaders questioning the government move to exempt political parties from income tax.

Speaking on the controversy Finance Minister Arun Jaitley has said, "This is a complete media creation. Has a single change made in the last two months or so or in the last two-and-a-half years with regard to taxation of political parties? The answer is 'No'."

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