DMK income sees 800% jump in a year

CHENNAI: The DMK’s income rose from Rs 3.78 crore in 2016-17 to Rs 35.74 crore in 2017-18, an increase of 845.71%, says a report collated by the Association of Democratic Reforms, based on audited accounts submitted by parties to the Election Commission of India.
Among regional parties, the DMK’s income increased the most and it was attributed to the fee collected by way of renewal and new membership drive, which accounted for Rs 22.14 crore.The party also earned Rs 11.77 crore as interest from its various bank deposits.
The Samajwadi Party topped all the regional parties with a total income of Rs 47.19 crore, followed by the DMK. In comparison, the ruling AIADMK earned only Rs 12.72 crore, indicating a drop of 74% compared to the previous year, when its income was Rs 48.88 crore.
“It was during the financial year 2017-18 that we asked all DMK functionaries to renew their membership and admitted more members. Applications were sold for renewal of membership and members had to pay the subscription too. Many members also paid the subscription that was pending for several years at one go,” said a senior DMK leader.
The total income of all 37 regional parties for 2017-18, was Rs 237.27 crore. The total income of top three parties (SP, DMK and TRS) amounted to Rs 110.21 crore, 46.45% of the total combined income of all the 37 regional parties.

The total expenditure of all the regional parties stood at Rs 170.45 crore. Of this, the top three parties that spent more than all others were Samajwadi Party at Rs 34.53 crore, followed by the DMK at Rs 27.47 crore and TDP with Rs 16.73 crore. Expenditure incurred by the top three political parties is 46.19% of the total expenditure, reported by the regional parties.
Audit reports of 11 parties were not available on the website of the ECI, a delay of 127 days from the due date for submission, which is September 30 of every year.
“Any party which does not submit its income tax returns or donation statement to the ECI on or before the due date, their income should not be exempted from tax and defaulting parties should be derecognized,” said the ADR in its recommendations.
Accounts of regional parties which do not follow the ICAI guidelines for auditing of reports should be scrutinized by the income tax department, the recommendations said.