Electoral trusts are non-profit companies established for receiving donations from a person or a company and distributing the same to political parties
Mumbai-based A B General Electoral Trust donated Rs 10 crore to the ruling Bharatiya Janata Party in the financial year 2021-22, the Election Commission of India said on Tuesday. The trust received Rs 10 crore in two instalments of Rs 5 crore each from Hindalco Industries Ltd in the financial year and donated the entire sum to the BJP in two instalments of Rs 5 crore each.
Chennai-based Triumph Electoral Trust received Rs 50 lakh from Tube Investments of India Limited in FY 2021-22. It donated the entire amount to Dravida Munnetra Kazhagam, the party which rules Tamil Nadu.
Both trusts had submitted their annual contribution statements to the EC which put them in public domain on Tuesday. Electoral trusts are non-profit companies established for receiving donations from a person or a company and distributing the same to political parties. The trusts get income tax exemptions as well.
