Quick Summary
In a major crackdown on electoral tax abuse, the Income Tax Department has recovered Rs 1,400 crore from over 63,000 individuals who evaded taxes by falsely claiming deductions for donations made to registered unrecognised political parties (RUPPs) during the financial years 2022-23 and 2023-24.
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FAQ :
The Income Tax Department has recovered Rs 1,400 crore.
Over 63,000 individuals were involved.
Individuals falsely claimed deductions for donations made to registered unrecognised political parties (RUPPs) during FY 2022-23 and 2023-24.
It is a strategic initiative launched by the department to encourage voluntary reversal of false deductions by taxpayers.
RUPPs enjoy tax exemption on donations, and donors can claim deductions, but loopholes have allowed these parties to be used for money laundering and tax evasion.
The number of RUPPs has grown significantly, from 694 in 2001 to 3,264 as of March 2024.
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