KATHMANDU: The Election Commission has received the income and expenditure details of 107 political parties so far.

The financial disclosure for the current fiscal year has been received from 107 political parties, according to Ghamchandra Timalsina, section officer at the EC.

"Those submitting their financial details include the major political parties Nepali Congress, CPN-UML, CPN Maoist Centre, Rastriya Prajatantra Party, Rastriya Janata Party Nepal and Federal Socialist Forum among others.

As per Political Party Registration Act- 2074, the political parties registered at the EC are required to submit their financial details within six months of the beginning of the financial year. A total of 137 political parties have been registered at the EC, with the number now coming down to 125 after unification among various parties.

Political parties failing to meet the requirement of submitting their income and expenditure details are liable to a fine of Rs. 10,000. The deadline for this year ends on February 12.