{"act":{"id":"finance-act-2017","short_title":"The Finance Act, 2017","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2017-2018.","act_number":null,"act_year":2017,"enact_date":"2017-04-17","enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":198,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2017/"},"unit":"section","section":{"number":"11","heading":"Amendment of section 13A","text":"Amendment of section 13A. 11. In section 13A of the Income-tax Act, with effect from the 1st day of April, 2018,— (I) | in the first proviso,— (i) | in clause (b),— (A) | after the words \"such voluntary contribution\", the words \"other than contribution by way of electoral bond\" shall be inserted; (B) | the word \"and\" occurring at the end shall be omitted; (ii) | in clause (c), the word \"; and\" shall be inserted at the end; (iii) | after clause (c), the following clause shall be inserted, namely:— '(d) | no donation exceeding two thousand rupees is received by such political party otherwise than by an account payee cheque drawn on a bank or an account payee bank draft or use of electronic clearing system through a bank account or through electoral bond. Explanation.—For the purposes of this proviso, \"electoral bond\" means a bond referred to in the Explanation to sub-section (3) of section 31 of the Reserve Bank of India Act, 1934 (2 of 1934).'; (II) | after the second proviso, the following proviso shall be inserted, namely:— \"Provided also that such political party furnishes a return of income for the previous year in accordance with the provisions of sub-section (4B) of section 139 on or before the due date under that section.\".","html":"

Amendment of section 13A.

11. In section 13A of the Income-tax Act, with effect from the 1st day of April, 2018,—

(I)in the first proviso,—
(i)in clause (b),—
(A)after the words \"such voluntary contribution\", the words \"other than contribution by way of electoral bond\" shall be inserted;
(B)the word \"and\" occurring at the end shall be omitted;
(ii)in clause (c), the word \"; and\" shall be inserted at the end;
(iii)after clause (c), the following clause shall be inserted, namely:—
'(d)no donation exceeding two thousand rupees is received by such political party otherwise than by an account payee cheque drawn on a bank or an account payee bank draft or use of electronic clearing system through a bank account or through electoral bond.
Explanation.—For the purposes of this proviso, \"electoral bond\" means a bond referred to in the Explanation to sub-section (3) of section 31 of the Reserve Bank of India Act, 1934 (2 of 1934).';
(II)after the second proviso, the following proviso shall be inserted, namely:—
\"Provided also that such political party furnishes a return of income for the previous year in accordance with the provisions of sub-section (4B) of section 139 on or before the due date under that section.\".
","words":218,"text_source":"published"},"classification":[],"instruments":[],"judgments":[{"cnr":"SCIN010023442018","order":"order-13.pdf","title":"Association For Democratic Reforms vs Union Of India","court":"SC","court_name":"Supreme Court of India","date":"2024-02-15","citation":"2024 INSC 113","precedential_value":"Binding (Supreme Court Constitution Bench)","court_marking":"reportable","ratio_decidendi":"The Electoral Bond Scheme violates Article 19(1)(a) by preventing disclosure of electoral contributions essential to informed voting. Voters have fundamental right to information about political funding as political parties are focal units in electoral system affecting policy outcomes. The purposes cited (curbing black money and protecting donor privacy) do not justify this extensive non-disclosure. Alternative measures like Electoral Trusts, direct banking channels with disclosure at Rs. 20,000+ threshold, and sector-specific audit requirements satisfy the objectives with lesser impact on fundamental rights. Removal of contribution caps in Section 182 of Companies Act is manifestly arbitrary as it fails to distinguish between profit-making and loss-making companies and treats corporations like individuals despite different capacities to influence politics. The right to know trumps donor privacy in balancing analysis as political contributions are public acts affecting public policy and representative democracy.","applied_to_this_section":"Exempted political parties from maintaining records of electoral bond contributions. Held unconstitutional as it prevented accountability and transparency.","basis":"cited","decided_under":null,"url":"https://ecourtsindia.com/cnr/SCIN010023442018/order-13"}],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2017/section/11/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}