The counting will be held on May 16, added the sources.
The five-phase polling is likely to begin on April 16 and continue till May 13
The poll panel is expected to declare the schedule of the polls in the first week of March. The dates of the five phases are roughly these:
Phase 1 on April 16 (124 seats will go to the polls)
Phase 2 on April 22/23 (141 seats)
Phase 3 on April 30 (107 seats)
Phase 4 on May 7 (85 seats)
Phase 5 on May 13 (86 seats)
The term of the 15th and the current Lok Sabha is set to end on May 31. The new Lok Sabha will assume office by June 1, said sources.