Tuesday, August 2, 2011

Lok Satta Party Income And Expenditure (2010-2011)

INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31st MARCH, 2011

PARTICULARSRS.
INCOME
Membership Fee 2,055,111
Contributions 15,186,147
Other Income 1,790,454
TOTAL 19,031,712
EXPENDITURE
Administrative & Establishment Expenses 6,677,603
Promotion & Propagation Expenses 1,760,574
Tamilnadu Assembly Election Campaign Expenses 328,281
Depreciation 532,790
Excess of Income over Expenditure 9,732,465
TOTAL 19,031,712
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22 comments:

  1. S MD SAJIDAugust 3, 2011 at 4:27 AM

    I have seen for the first time a political party declaring its annual income and expenditure to the public. Its the symbol of responsible political parties...... J.P. - u are the one politician, for whom we have been waiting since our independence.

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  2. AnonymousAugust 3, 2011 at 7:07 AM

    good calculations... there is no difference in the numbers of income and expenditures... an professional political party.... all the expenditures are calculated according to the income... wowww excellent, awesome...
    only the difference is no of income source (i.e. 3) no of expectures (i.e. 5)...

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  3. AnonymousAugust 3, 2011 at 7:25 AM

    Anonymous, did you read "Excess of Income over Expenditure"? Do you understand what it is?

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  4. Sripal SamaAugust 3, 2011 at 7:57 AM

    The guy who commented second from top.. man see the 'Excess of income over expenditure' man. You dont seem to understand it.

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  5. SriAugust 3, 2011 at 9:12 AM

    Could someone please explain 'contributions' section and what does it include? Is anything excess of membership fee treated as contributions? Are any of the 'contributions' sourced from anonymous individuals or corporates? As a believer of Loksatta values, I would like every bit of funding to be on the book and traceable to the donor.

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  6. AnonymousAugust 3, 2011 at 10:08 AM

    Sri, Contributions are donations. The very fact that the donations appear in public financial stmnt is that they are traceable. I think records need to be maintained for any donation above Rs.20,000 according to political funding law.

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  7. AnonymousAugust 3, 2011 at 10:11 AM

    where is balance sheet,

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  8. AnonymousAugust 3, 2011 at 10:11 AM

    And for someone above commenting on income and expenditures matching -- Do you know the concept of balancing? Heard terms such as balance sheet etc?

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  9. AnonymousAugust 3, 2011 at 2:51 PM

    The detailed level report is submitted to the dept.They won't give individuals names because it might be a problem for them.

    Ex: I am a business man and donated to loksatta 10Lakh rupess through Cheque.If my name appears for public people will know i am a strong supporter of loksatta,which i don't want to be published to all.

    So if anyone wants complete details,They can file an RTI and get it.Even loksatta is not supposed to share the individual contributions details.

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  10. AnonymousAugust 3, 2011 at 2:55 PM

    I am highly doubtful whether one can file RTI and get it. The individual details of others may not come under RTI.

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  11. AnonymousAugust 3, 2011 at 8:23 PM

    We believe that in Inda fist time showing audited account plitical patprty.This is morel to all parties.

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  12. SriAugust 4, 2011 at 2:30 AM

    It is the case with most other political parties that the amount of funds accrued as a result of individual donations that fall within the threshold of disclosure relaxation - exceed over 90%. They take advantage of this relaxation in accepting illegitimate funds and masking the sources of such funds. Would like to know how much is the share of such contributions in case of Loksatta that don't require individual traceability. And I don't see any reason why Loksatta should accept funds from individuals, even for paltry amounts, and not bother to record the identity of such donors. Aren't all Loksatta donors proud of what they do?

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  13. SatishAugust 4, 2011 at 7:35 AM

    Lok Satta submits all the details of donations to the Income Tax department. For those who donates more than Rs.20,000, they have to do so by cheque or DD. Every donation is traceable.

    You are thinking that, all the donations are made only by software engineers. Software engineers are proud of donating to Lok Satta. Other than employees of private firms, nobody would like to disclose that, they had donated to Lok Satta (however small amount it is).

    I heard from one rich business person that, if Lok Satta is ready to accept cash, he could donate lot more. If he donates by cheque or DD, other political parties would come to know, and they demand significantly more.

    All the personal details are strictly confidential. PERIOD.

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  14. Kishore GundlapalliAugust 4, 2011 at 5:40 PM

    Just before Assembly elections, I donated Rs. 100000/- (One hundred thousand rupees),I received my receipt and 80/G tax exemption as scanned copy to my email address provided. I do not know anyone and never spoken to anyone from LSP at that time. If any of you have any doubts, you can send me email will forward my copy.
    Before you go and do "Salya pareekkha" spare a thought to others who do not want to divulge purely as their personal information.
    Kishore,
    Tokyo, Japan.

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  15. AnonymousAugust 4, 2011 at 6:30 PM

    To my understanding Loksatta always provides the receipt for any donation made. And I remembered they were insisting on paying through only check last time I tried. So, they will have traceability for each of the donations.

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  16. Team VISIONAugust 11, 2011 at 1:08 PM

    This is really great. And if Loksatta able to give more pathway for the youth in politics..It will be great........

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  17. AnonymousAugust 15, 2011 at 11:46 PM

    there should be transparency in every political party fundings....excellent job done by loksatta party

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  18. AnonymousAugust 17, 2011 at 6:43 AM

    I really doesnt have money,otherwise i would have definetely contributed money for the party.sorry JP sir.AM going to finish my b.tech in 2012,i promise i will definetely contribute my first salary to Jp's LOKSATTA PARTY.

    U SUNIL KUMAR
    KADAPA 9247431524

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  19. AnonymousAugust 17, 2011 at 11:50 AM

    Truely I am saying, I did not vote in last elections only because of the reason Loksatta asembly member is not participated in our region.But hope in next elections I will vote to Loksatta member.
    Jp Sir, We are expecting you be the leader in next elections.We dont want these corrupted people as our political leaders.We are with you Sir...

    Hasini
    Bangalore.

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  20. AnonymousAugust 21, 2011 at 8:41 PM

    this is truly inspiring.....
    jp sir......we love you as a leader...
    i shall put my best efforts to make you the leader of AP....
    mounica
    vizag

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  21. sandeepchilukuriAugust 21, 2011 at 11:02 PM

    It's really great. No political party in India other than Loksatta dare to publish their accounts publicly and insist supporters contribute through checks :) I am really glad..This kind of transparency motivates me contribute to Loksatta more... Thank you

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  22. AnonymousSeptember 25, 2012 at 6:39 AM

    In USA there is a limit on how much an individual can contribute per taxcode, all political parties do announce, publish, debate, and discuss on open platform freely. No one pays anyone and no one accepts even if someone is ready to pay, just because it is illegal and per law they could be punished severely. Not worth trying. So the gist of this is - People are afraid or may be obey law as consequences are irreversible.
    Lessons Learned:
    1. Change in policies in India to make sure they work, and make law enforcement, courts and justice depts, enquiry depts independent agencies with checks and balances to effectively serve their purpose without any external or internal influences.
    2. Follow and educate people to follow even if people are from urban, rural, backward or any lawful location.
    3. Establish a workable sustainable System so the system can take care of the society.

    I guess this is very much debatable before drawing any conclusions prematurely.
    But thanks for reading my friends.
    India needs change and time has come

    Regards
    Murali Pinnamaneni

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