Income Tax Return of Political Parties in India: The Association for Democratic Reforms has analysed the total income and expenditure incurred by the National Parties during FY 2017-18.
Income Tax Return of Political Parties in India: The Association for Democratic Reforms has analysed the total income and expenditure incurred by the National Parties during FY 2017-18. The income and expenditure incurred by the parties were declared in their Income Tax Returns submitted to the Election Commission of India. The National parties include Bharatiya Janata Party (BJP), Indian National Congress (INC), Bahujan Samaj Party (BSP), Nationalist Congress Party (NCP), Communist Party of India (CPI), Communist Party of India (Marxist) (CPM) and All India Trinamool Congress (AITC).
BJP declared a total income of Rs 1,027.339 cr during FY- 2017-18, but spent only 74% (Rs 758.47 cr) of the total income while BSP’s total income was Rs 51.694 cr of which the party spent only 29% (Rs 14.78 cr).
NCP is the only party to have spent more than its total income during FY- 2017-18. While declaring an income of Rs 8.15 cr, the party spent Rs 8.84 cr, an excess of Rs 69 lakhs.
Between FY 2016-17 and 2017-18, the income of BJP decreased by 0.67% (Rs 6.93 cr) from Rs 1034.27 cr during FY 2016-17 to Rs 1027.34 cr during FY 2017-18.
Between FY 2016-17 and 2017-18, the income of BSP decreased by 235.78% (Rs 121.88 cr) from Rs 173.58 cr during FY 2016-17 to Rs 51.694 cr during FY 2017-18 while the income of NCP decreased by 111.47% (Rs 9.085 cr) from Rs 17.235 cr during FY 2016-17 to Rs 8.15 cr during FY 2017-18.
Six National parties collected 86.91% (Rs 1,041.80 cr) of their total income from Voluntary contributions for FY- 2017-18.
During FY- 2017-18, out of the 6 National Parties, only BJP declared receiving an income of Rs 210 cr from Contribution through Electoral Bonds.
Rs 714.57 cr was income generated through other contributions by National parties during FY- 2017-18.
The Indian National Congress is yet to submit its audited report to the ECI, even as the deadline was October 30, 2018.
