Quick Reference Guide to Political Contribution

Legal Provision - Section 182 of Companies Act, 2013.

Key Points:-

1. The Company can give Political Contribution in an aggregate in such Financial Year upto 7.5% of average net profit during 3 immediately preceding Financial Years.

2.Contribution should be given to Any Political Party.

3. The Government Companies and The Company which is incorporated within less than 3 Financial Years are not allowed to Contribute an amount to any political party whether Directly or Indirectly.

4. Board Resolution is mandatory for Contribution to any political party.

5. Disclosure should be made in the P& L account of the Company.

6. If there is any Contravention under this Section then Company is liable for fine up to 5 times of Contribution of Amount. And the officer in default is liable for imprisonment up to 6 months and with fine also which may extend to 5 times of the contribution of amount.

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