section 182

no limit.....

182 limit is not exceeding 7.5% of average net profit of the immediately preceding three financial year

section 182 limit has now been removed. please read amended provision.

There is no limit under sec. 182 for political contribution. Also the disclosure requirement is to limited to disclose amount of such contribution during F.Y. in P&L.

please provide amendment provision of sec. 182

Ammendment in sec 182

In the Companies Act, 2013, in
section 182 —
(i) in sub-section (1),—
(a) first proviso shall be omitted;
(b) in the second proviso, —
(A) the word "further" shall be
omitted ;
(B) the words "and the acceptance" shall be omitted;

(ii) for sub-section (3), the following shall be substituted , namely:—

‘‘(3) Every company shall disclose in its profit and loss account the total amount contributed by it under this section during the financial year to which the account relates.

(3A) Notwithstanding anything contained in sub-section (1), the contribution under this section shall not be made except by an account payee cheque on a bank or an account payee bank draft or use of electronic clearing system through a bank account:

Provided that a company may make contribution through any instrument, issued pursuant to any scheme notified under any law for the time being in force, for contribution to the political parties.’’.

7.5% of net profit of immediately 3 f.y. and also disclosed in profit and loss account and name of political party also