No tax exemption or privilege for political parties: Arun Jaitley

Updated: Dec 18, 2016, 10:13 IST | Agencies

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'."

Two RBI officials held in note scam

CBI arrested two employ­ees of cash department of RBI in Bengaluru on Saturday in connection with alleged conversion of R1.99 crore of demon­etised currency with specified bank notes of Rs 2,000 and Rs 100. CBI sources said that Senior Special Assistant Sada­nanda Naika and Special Assistant AK Kavin were held for unauthorised exchange of currency.

Centre draws flak
Mamata Banerjee, TMC chief and Bengal CM
It is unfortunate how confusing and misleading statements are coming from senior government officials

Rahul Gandhi, Congress vice-president
Vijay Mallya is India's thief. After demoneti­sa­tion, why did you (PM) waive his loan? Why did you feed him a toffee of R1,200 crore?

Arvind Kejriwal, AAP chief and Delhi CM
Most of the black money is in the hand of political parties

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