Political parties have failed to arrive at an agreement on a Law Commission recommendation making it mandatory to disclose donations less than Rs 20,000 if the total amount exceeds Rs 20 crore. There was also a "lack of agreement" on penalties for non-submission of details on contributions by parties. The EC, quoting parties, said the proposed Rs 50 lakh penalty for filing of false information was considered too high, especially for small parties. The EC has come out with a draft outcome paper based on the March 30 consultations on political finance and the latest Law Commission report on electoral reforms.