By : Oneindia Video Team
Published : December 27, 2016, 11:59
Duration : 00:55
Demonetisation: Political parties free to deposit their old notes without tax
Government has announced that depositing old 500 and 1,000 rupee notes of political parties will be exempt from income tax provided the donations taken are below Rs 20,000 per individual and properly documented. Revenue secretary, Hasmokh Ahdia, clarified that,even as the government levied stiff penalty on unaccounted cash in banks and came out with new disclosure scheme.