NEW DELHI: Congress has rejected the suggestions made by the Election Commission (EC) to bring transparency and accountability regarding donations received by political parties.

The ruling party, in its response to the EC’s letter seeking views of all recognized parties on bringing transparency in their finances, has favoured status quo.

The commission, as part of its 10-point plan to usher in transparency in the polling process, wants to make it mandatory for all parties to issue acknowledgement receipts to each individual or corporate donor irrespective of the amount donated and maintain a paper trail of the receipts that must be audited every fiscal.

In a bid to regulate funds raised by parties, the poll watchdog suggested that donations received by them in excess of Rs 20,000 should only be acknowledged through a crossed account-payee cheque or by online bank transfer via RTGS.

The EC is mulling issuing instructions to the parties to submit to it the audited accounts — along with the contribution report — before September 30 every year or ahead of the due date for filing returns to the income tax department.

The commission also proposed that the parties deposit all contributions/donations in a bank account within a reasonable timeframe. The commission seeks to make it mandatory for the treasurer of the party to maintain all finances and accounts and ensure that accounting norms comply with the guidelines issued by the Institute of Chartered Accountants of India ( ICAI ).

Incidentally, Congress is one of the two national parties — the other being CPI — that have submitted their views to the EC on guidelines for transparent party funding . CPI, unlike Congress, has agreed to all but a couple of proposals made in the EC’s proposal to curb money power in polls. The BJP , CPM, BSP and NCP are yet to respond to the EC, despite the commission having extended the deadline by a fortnight.

The regional parties fare no better, with only four among the 49 giving their views on the matter. These include the AIADMK, Trinamool Congress , Zoram Nationalist Party and Sikkim Democratic Front (SDF), all of which have reportedly largely backed the EC’s proposed measures.