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Electoral Bond Scheme, 2018

Indian Laws - F. No. 4(23)-B(W&M)/2017 - S.O. 29(E) - Dated:- 2-1-2018 - MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 2nd January, 2018 S.O. 29(E).-In exercise of the powers conferred by sub-section (3) of Section 31 of the Reserve Bank of India Act, 1934 (2 of 1934), the Central Government hereby makes the following Scheme, namely:- 1. Short title and commencement.-(1) This scheme may be called the . (2) It shall come into force on the date of its publication .....

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Annexure I for issuing electoral bonds; (d) person includes- (i) an individual; (ii) a Hindu undivided family; (iii) a company; (iv) a firm; (v) an association of persons or a body of individuals, whether incorporated or not; (vi) every artificial juridical person, not falling within any of the preceding sub-clauses; and (vii) any agency, office or branch owned or controlled by such person. 3. Eligibility for purchase and encashment of electoral bond.-(1) The Bond under this Scheme may be purcha .....

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d. (4) The bond shall be encashed by an eligible political party only through a bank account with the authorised bank. 4. Applicability of Know Your Customer Norms.-(1) The extant instructions issued by the Reserve Bank of India regarding Know Your Customer norms of a bank s customer shall apply for buyers of the bonds. (2) The authorised bank may call for any additional Know Your Customer documents, if it deems necessary. 5. Denomination.-The bonds shall be issued in the denomination of ₹ .....

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ply with a physical or through online application in the format specified in Annexure II to this notification. (2) Every application shall contain particulars as per the format in Annexure-II and shall be accompanied with the specified documents. (3) On receipt of an application, the issuing branch shall issue the requisite bond, if all the requirements are fulfilled. (4) The information furnished by the buyer shall be treated confidential by the authorised bank and shall not be disclosed to any .....

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nuary, April, July and October as may be specified by the Central Government. (2) An additional period of thirty days shall be specified by the Central Government in the year of general elections to the House of People. 9. Interest.-No interest shall be payable on the bond. 10. Issuing offices and commission payable.-No commission, brokerage or any other charges for issue of bond shall be payable by the buyer against purchase of the bond. 11. Payment options.-(1) All payments for the issuance of .....

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lidity period of fifteen days shall be deposited by the authorised bank to the Prime Minister Relief Fund. 13. Tax treatment.- The face value of the bonds shall be counted as income by way of voluntary contributions received by an eligible political party, for the purpose of exemption from Income-tax under section 13A of the Income-tax Act, 1961. 14. Trading of bonds.-The bonds shall not be eligible for trading. Annexure I Name of Authorised Bank: STATE BANK OF INDIA [refer clause 2 (b)] List of .....

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NEW COLONY GURGAON 14 HIMACHAL PRADESH 718 SHIMLA 15 JAMMU& KASHMIR 2295 BADAMI BAGH BR SRINAGAR 657 JAMMU 16 JHARKHAND 167 RANCHI 17 KARNATAKA 813 BANGALORE MAIN BRANCH 846 HUBLI 18 KERALA 941 THIRUVANANTHAPURAM MAIN 19 LAKSHADWEEP 5080 KAVARATTI 20 MADHYA PRADESH 1308 BHOPAL MAIN BRANCH 377 GWALIOR MAIN BRANCH 21 MAHARASHTRA 300 MUMBAI MAIN BRANCH 432 NAGPUR 454 PUNE MAIN BRANCH 22 MANIPUR 92 IMPHAL 23 MEGHALAYA 188 SHILONG 24 MIZORAM 1539 AIZAWL 25 NAGALAND 214 KOHIMA 26 ODISHA 41 BHUBAN .....

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ctoral Bond: APPLICATION FORM FOR ELECTORAL BONDS ___________(YEAR) NAME OF ISSUING BANK: NAME OF BRANCH: DATE MODE OF SUBSCRIPTION CHEQUE/DD ELECTRONIC TRANSFER DETAILS OF CHEQUE/DD/ DATED AMOUNT IN FIGURES: AMOUNT IN WORDS: DENOMINATION & NUMBER OF ELECTORAL BONDS REQUIRED (in denomination of ₹ 1000, ₹ 10,000, ₹ 1,00,000, ₹ 10,00,000 and ₹ 1,00,00,000) PAN NO. / TAN NO.AS APPLICABLE APPLICANT STATUS (As per clause 3(a) of the notification No…….da .....

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) The information furnished in the application form is correct in all respects. (ii) I have read and understood the details of information for the buyer of the ElectoralBonds as well as the rights and duties of the Electoral Bond holder. Signature Signature 1st APPLIANT 2nd APPLICANT IN CASE OF THUMB IMPRESSION, ATTESTATION BY TWO WITNESSES: 1ST WITNESS (DETAILS) 2ND WITNESS (DETAILS) HUF DECALARATION : I, ____________________RESIDING AT THE ADDRESS GIVEN AGAINST FIRST APPLICANT, DO SOLEMNLY AFF .....

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