It's taxing times for electoral bond buyers after Supreme Court's Feb verdict
electoral bonds to make political donations potentially face questions from tax authorities on deductions that were made on these contributions with the Supreme Court having scrapped the scheme in February. A few companies have already received notices for deductions claimed for political contributions made through electoral bonds, people familiar with the development told ET.
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Prominent companies such as Infosys, Embassy Group, Megha Engineering, Aditya Birla Group, JSW Steel, Torrent Pharma, Lupin, Intas, Bharti Airtel and Alembic Pharmaceuticals Ltd had purchased electoral bonds.
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Offering CollegeCourseWebsiteIndian School of BusinessISB Chief Digital OfficerVisitUniversity of Western AustraliaUWA Global MBAVisitIndian School of BusinessISB Chief Technology OfficerVisitThe Supreme Court had on February 15 held the electoral bond scheme to be unconstitutional. The scheme had raised ₹16,518 crore for political parties since it was notified in January 2018.
India Inc has flagged the matter to finance ministry seeking intervention, possibly in the upcoming budget.
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