Electoral Bond

The concept of electoral bonds was introduced by Mr. Jaitley during his Budget 2017 speech in order to bring some transparency to the electoral funding process.

  • These bonds have to be authorised under a scheme under the Income Tax Act.
  • It will open for a limited period of time during the elections, or maybe a little before the elections.
  • A bond can be purchased by any donor only by cheque or electronic payment, only at authorised banks.
  • These bonds can be donated only to a political party. These are redeemable in only one account of that party, registered with the Election Commission.

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