A New Way to Avoid Income Tax - Start a Political Party
DO you know how many political parties exist in India? At least the Election Commission of India has nearly 1200 registered political parties – one party had its office in a tea shop, while another did not have even that for an address. Most of them never participated in an election! But, then why these parties? There is an income tax exemption for donations to political parties! One of these registered political parties spent about Rs. Three Crores on jewellery and shares. You can even register a party and later sell it for a premium – in black. Democracy in Action!