Page 41 - Finance Act News Today

India News: The Election Commission (EC) had flagged its concerns in the Supreme Court on the changes made in several laws relating to political funding to facilitate the electoral bonds scheme, saying it will have serious repercussions on transparency.

Although parties can still continue to receive funding through other means, experts point out that the veil of anonymity being lifted by the apex court will change things.

Get latest articles and stories on India at LatestLY. The Supreme Court on Thursday while striking down the Centre's Electoral Bonds scheme said that the purpose of curbing black money is not a sufficient justification to anonymise the identities of donors and the details of the contributions in the Electoral Bonds scheme. India News | Electoral Bonds Not the Only Way to Curb Black Money: Supreme Court.

India News: The Supreme Court on Thursday declared the electoral bond scheme introduced by the BJP government in 2018 that allowed large-scale anonymous corporate

ECI had written a three-page letter to the law ministry on May 26, 2017, flagging concerns over amendments in the Finance Act, 2017, which brought changes in the Income Tax Act, The Companies Act, 2013, and the Representation of the People Act, 1951 - all done to enable the launch of the scheme.

Late former Finance Minister Arun Jaitley introduced the Electoral Bonds Scheme in 2017.

A five-judge constitution bench headed by Chief Justice D Y Chandrachud held that the 2018 scheme was violative of the constitutional right to freedom of speech and expression and right to information.

India News: The Supreme Court's decision to invalidate electoral bonds appears to have been motivated by concerns about the ability of large sums of money to infl

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The Election Commission (EC) had, in 2019, flagged its concerns in the Supreme Court on the changes made in several laws relating to political funding to facilitate the electoral bonds scheme, saying it will have serious repercussions on transparency.