Union Law Ministry has made it mandatory for election candidates to reveal their income-tax returns of the last five years, as well as the details of their offshore assets. This was done by amending Form 26.
About:
A candidate in an election is required to file an affidavit called Form 26 along with the nomination papers and should be sworn before an Oath Commissioner or Magistrate of the First Class or before a Notary Public.
What is it? Form 26 furnishes information on his assets, liabilities, educational qualifications, criminal antecedents (convictions and all pending cases) and public dues, if any.
Background: Form 26 was introduced on September 3, 2002, following a court order in the aftermath of the 170th Report of the Law Commission which suggested the same.
Recent change: It is now mandatory for candidates to reveal their own income-tax returns of the last five years rather than only one, and the details of offshore assets, as well as the same details for their spouse, members of the Hindu Undivided Family and dependents.
Significance of this change: It would help voters make an informed decision by making them aware of the criminal activities of a candidate. Voters will know the extent to which a serving MP’s income grew during his five years in power.
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