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EC: Candidates will have to give more info on assets

To check the use of black money in polls, candidates in the five states — going to poll in April-May this year — will have to provide their sources of income, additional information about their assets and that of their entire family to the election commission.
Hindustan Times | By Chetan Chauhan, New Delhi
UPDATED ON MAR 05, 2011 11:54 PM IST

To check the use of black money in polls, candidates in the five states — going to poll in April-May this year — will have to provide their sources of income, additional information about their assets and that of their entire family to the election commission.

For the first time, the panel has sought information on finances and criminal record in the affidavit to be submitted along with the nomination papers by each candidate. The revised affidavit will be applicable for candidates contesting in Tamil Nadu, Kerala, Assam, West Bengal and Puducherry.

The additional information being sought includes permanent account number (PAN) and when the family individually filed income tax returns.

The Central Board for Direct Taxes had found huge discrepancies in income details of over 300 politicians in the recent past. The details in the affidavits did not match the actual income of the candidates in many cases, an election commission official said.

"The additional information being sought will help agencies in acting faster," said James M Lyngdoh former poll panel chief.

Against the existing format of declaring the number of assets and its total value, the candidates will now be required to submit details of each property along with its present market value and cost at the time of purchase or inheritance.

The candidates will also have to provide details about every type of investment in shares, bonds or insurance schemes or liabilities in the affidavit.

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