Collecting data on I-T returns of political parties: FinMin

The government today said the Income Tax Department is collecting information on tax returns filed by various political parties and would place it in Parliament.

"The information is being collected from the field formations spread all over the country and to the extent possible shall be laid on the Table of the House", Minister of State for Finance SS Palanimanickam said in a written reply in the Lok Sabha.

The Minister said this while answering questions on tax returns filed by various political parties.

The Minister further said that government does not maintain centralised data in respect of tax returns of political parties spread across the country.

To another query about the source of income of political parties, he said, under the Income Tax Act 1961, political parties are required to maintain the details of voluntary contributions above Rs 20,000 received by them.

However, Palanimanickam added, "there is no requirement for them to file the details of these contributions with their returns of income."