corporate social responsibility

Corporate Social Responsibility and Selection of Organisation for Partnership

Company Law - CS Deepak Pratap Singh We Indians have charity inherited in our heart, we have grown by seeing that our fathers’ and forefathers’ are donating in various temples, mosques, gurudwaras and churches. We are donating or doing philanthropic works without knowing that , who is the true beneficiary of our donation or charity. The fac...

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CSR Provisions – Obligation or Opportunity

Company Law - With the introduction of Corporate Social Responsibility provisions, many corporate consider this provision to be a burden on them. ...

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Analysis of CSR expense of 7334 Companies for FY 2014-15

Company Law - Out of 10475 eligible companies, 7334 have reported as of 31st January 2016. Out of these reporting companies only 3139 have done some expenditure on CSR....

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Deduction of CSR expenses under Income Tax Act, 1961

Company Law - Give and take is a way of getting things done in a desired manner. When we give something, we expect something. A mom dictating a child to finish her homework gets a likely response If I will finish this, will you give me a chocolate? Similar was the expectation of the corporates regarding the allowance of expenditure incurred for fulfill...

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Charter for Corporate Social Responsibility (CSR) Committee

Company Law - The objective of the Corporate Social Responsibility Committee of the Board of Directors the Company shall be to assist the Board and the Company in fulfilling its corporate social responsibility...

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Show cause notices to 1018 companies for violation of CSR norms

Company Law - Show cause notices have been issued to 1018 companies for 2014-15 for violation of Section 135 read with Section 134(3) (o) of the Companies Act, 2013....

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High Level Committee Report on CSR Compliance

Company Law - Major recommendations of the Committee include, inter-alia, the following: It would be desirable to conduct a review of the CSR provision of the Act after three years. Ceiling on administrative overhead cost should be increased from 5% to not more than 10% of the CSR expenditure. Definition of the term “net profit” used u...

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Draft Guidance Note on Treatment of CSR Activity Costs

Company Law - Cost Accounting Standards Board (CASB) releases Exposure Draft of Guidance Note on ‘Treatment of Costs Relating to Corporate Social Responsibility (CSR) Activities ‘. Cost Accounting Standards Board (CASB), the standard-setting body of the Institute, has approved the release of Exposure Draft of Guidance Note on ‘Treatment o...

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FM wants companies to voluntarily adopt good governance and corporate social responsibility (CSR) practices

Company Law - Finance Minister Pranab Mukherjee said he’d like companies to voluntarily adopt good governance and corporate social responsibility (CSR) practices, rather than be legally compelled to do so. Pranab Mukherjee Such voluntary contributions should be re...

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MCA may soon release e-form for companies to submit Corporate Social Responsibility report

Company Law - The Ministry of Corporate Affairs had released voluntary guidelines on Corporate Social Responsibility (CSR) during the ‘India Corporate Week’ organized in December last year. A number of corporates have stated that they would like to have an effective framework for reporting their responsible business practices. Keeping in view this ...

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Voluntary CSR Expense allowable as business expenditure

ACIT vs. Jindal Power Limited (ITAT Raipur) - CSR expense disallowance is restricted to the expenses incurred by the assessee under a statutory obligation under section 135 of Companies Act 2013, and there is thus now a line of demarcation between the expenses incurred by the assessee on discharging corporate social responsibility under such a ...

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CSR Policy Amendment Rules 2016

Notification No. G.S.R. 540(E) - (23/05/2016) - The Board of a company may decide to undertake its CSR activities approved by the CSR Committee, through (a) a company established under section 8 of the Act or a registered trust or a registered society, established by the company, either singly or alongwith any other company, or (b) a compa...

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23 FAQs on Corporate Social Responsibility U/s. 135 of Companies Act, 2013

General Circular No. 01/2016 - (12/01/2016) - Section 135 of the Companies Act, 2013, Schedule VII of the Act and Companies CSR Policy Rules, 2014 read with General Circular dated 18.06.2014 issued by the Ministry of Corporate Affairs, provide the broad contour within which eligible Companies are required to formulate their CSR policies includi...

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Recent Posts in "corporate social responsibility"

Show cause notices to 1018 companies for violation of CSR norms

Show cause notices have been issued to 1018 companies for 2014-15 for violation of Section 135 read with Section 134(3) (o) of the Companies Act, 2013....

Read More
Posted Under: Company Law |

Corporate Social Responsibility and Selection of Organisation for Partnership

CS Deepak Pratap Singh We Indians have charity inherited in our heart, we have grown by seeing that our fathers’ and forefathers’ are donating in various temples, mosques, gurudwaras and churches. We are donating or doing philanthropic works without knowing that , who is the true beneficiary of our donation or charity. The fac...

Read More
Posted Under: Company Law |

CSR Provisions – Obligation or Opportunity

With the introduction of Corporate Social Responsibility provisions, many corporate consider this provision to be a burden on them. ...

Read More
Posted Under: Company Law |

Analysis of CSR expense of 7334 Companies for FY 2014-15

Out of 10475 eligible companies, 7334 have reported as of 31st January 2016. Out of these reporting companies only 3139 have done some expenditure on CSR....

Read More
Posted Under: Company Law |

Deduction of CSR expenses under Income Tax Act, 1961

Give and take is a way of getting things done in a desired manner. When we give something, we expect something. A mom dictating a child to finish her homework gets a likely response If I will finish this, will you give me a chocolate? Similar was the expectation of the corporates regarding the allowance of expenditure incurred for fulfill...

Read More
Posted Under: Company Law |

Charter for Corporate Social Responsibility (CSR) Committee

The objective of the Corporate Social Responsibility Committee of the Board of Directors the Company shall be to assist the Board and the Company in fulfilling its corporate social responsibility...

Read More
Posted Under: Company Law |

Corporate Social Responsibility – An Insight

While there may be no single universally accepted definition of Corporate Social Responsibility (CSR), each definition that currently exists underpins the impact that businesses have on society at large and the societal expectations of them. Although the roots of CSR lie in philanthropic activities...

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Posted Under: Company Law |

Corporate Social Responsibility

Since the Ministry of Corporate Affairs is keen to move its attitude towards social development, they inserted a welcome provision of “CORPORATE SOCIAL RESPONSIBILITY” wide section no. 135 in new companies act, 2013....

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Posted Under: Company Law |

Section 135 –Corporate Social Responsibility- Companies Act, 2013

Following Expenditure are not treated as a CSR i) Any amount Contributed to political party is not treated as a CSR. (ii) Any project/Programme which benefits the employees or their family is not treated as CSR. (iii)Any activity undertaken by company during the normal course of business is not treated as CSR....

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Posted Under: Company Law |

Voluntary CSR Expense allowable as business expenditure

ACIT vs. Jindal Power Limited (ITAT Raipur)

CSR expense disallowance is restricted to the expenses incurred by the assessee under a statutory obligation under section 135 of Companies Act 2013, and there is thus now a line of demarcation between the expenses incurred by the assessee on discharging corporate social responsibility under such a statutory obligation and under a volunta...

Read More
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