Experts are intrigued by the new Income Tax Bill, 2025 retaining provisions related to electoral bonds, which were rendered unconstitutional by the Supreme Court last year, saying it could be because of legislative oversight or the government’s intention to bring it back in some other form.
The 1,300 entities that purchased electoral bonds to make political donations potentially face questions from tax authorities on deductions that were made on these contributions with the Supreme Court having scrapped the scheme in February. A few companies have already received notices for deductions claimed for political contributions made through electoral bonds, people familiar with the development told ET.
The Supreme Court (SC) decision on electoral bonds has put hundreds of taxpayers who have used these instruments to make…
