corporate social responsibility

CSR Penalty Under Companies Act 2013

Company Law - Penalty for non-compliance of CSR provisions under Companies Act, 2013 There is no specific penal provision for non-compliance under section 135 of the Act. However, there is risk exposure under two different provisions. A. Section 134(3)(o)& Section 134(8) (Non-disclosure or absence of the details about the CSR policy and its impleme...

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Corporate Social Responsibility | Section 135 of Companies Act 2013

Company Law - Corporate Social Responsibility or CSR is a business model that company follows to integrate social and environmental concerns in their business operations. CSR is Company’s effort to pay back the stakeholders and public , who contributed in their growth and success. CSR cannot be termed as charity. It is a way to make social good [...

Read More

Corporate Social Responsibility through Registered NGOs

Company Law - Corporate Social Responsibility And Selection Of Organisation (NGOs) For Partnership; 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 ...

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Draft CSR Policy for private companies

Company Law - Corporate bodies’ involvement in CSR activities is not a new concept in India. Industrial majors are engaged in social development activities since long back. However, the Companies Act, 2013 has brought it under the legal purview. ...

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CSR an Opportunity or Quibble? ALL about CSR

Company Law - The Term Corporate Social Responsibility (CSR), if read in literal sense, means responsibility (duties) of Corporates (Judicial persons) towards Society (the public). CSR has been in existence for a long time and is almost as old as civilization....

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Extension of time tor furnishing comments on CSR-2018

Company Law - Extension of time for furnishing comments for consideration of High Level Committee on corporate on corporate social responsibility-2018 The Ministry of Corporate Affairs (MCA) has constituted a High Level Committee on Corporate Social Responsibility-2018 (HLC-2018) to review the existing framework and guide and formulate a coherent polic...

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High Level Committee Constituted on CSR

Company Law - A High Level Committee on Corporate Social Responsibility – 2018 (HLC-2018) has been constituted under the Chairmanship of Shri. Injeti Srinivas, Secretary, Ministry of Corporate Affairs (MCA) to review the existing framework and guide and formulate the roadmap for a coherent policy on Corporate Social Responsibility ( CSR)....

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MCA to award Companies for their CSR intervention

Company Law - With the enforcement of Companies Act, 2013, Corporate Social Responsibility (CSR) provision under Section 135 has become applicable for companies meeting certain thresholds defined in the Act. The mandate for CSR spend, requiring such companies to spend two percent of their net profit on approved CSR activities, has now become a part of ...

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199 companies face penalty for non-compliance of CSR norms

Company Law - The Government has accorded permission for initiating penal action against 199 companies for non-compliance of provisions of section 135 read with section 134 (3) (o) of the Act. This was stated by Shri P.P. Chaudhary, Minister of State for Corporate Affairs and Law & Justice in the Rajya Sabha today. The Government has no proposal [&...

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Allow deduction for Corporate Social Responsibility Costs: ICAI

Company Law - Corporates are currently involved in various areas of social responsibility / community development as part of nation building. Further, the concept of Corporate Social Responsibility Costs has been introduced under Companies Act, 2013. The expenditure is mandatory in its nature and as such it is a statutory levy. Accordingly it deserves...

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CSR Expenses prior to 1st April 2015 Deductible from Total Income: ITAT

Bengal NRI Complex Ltd. Vs DCIT (ITAT Kolkata) - Bengal NRI Complex Ltd. Vs DCIT (ITAT Kolkata) Since the ‘CSR’ expenses are mandatory for companies incorporated as per the Companies Act, 2013 and the expenditure have been incurred by the assessee as envisaged under the Companies Act, 2013. So we are of the opinion that it has to be allowed an...

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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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MCA amends Schedule VII of Companies Act, 2013

G.S.R.390(E). - (30/05/2019) - Central Government hereby makes the following further amendments to Schedule VII of the said Act, namely:- In the said Schedule VII, after item (xi) and the entries relating thereto, the following item and entries shall be inserted, namely:-...

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Extension of Tenure of High Level Committee on CSR-2018

General Circular No. 02/2019 - (08/03/2019) - The High Level Committee on Corporate Social Responsibility, 2018 was constituted under the Chairmanship of Secretary, Ministry of Corporate Affairs vide OM of even no. dated 22.11.2018 to review the existing framework and formulate a coherent policy on Corporate Social Responsibility....

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Re-Constitution of High Level Committee on CSR 2018

High Level Committee on Corporate Social Responsibility — 2018 (HLC-2018) is hereby re-constituted under the Chairmanship of Shri. Injeti Srinivas, Secretary, Ministry of Corporate Affairs (MCA) to review the existing framework and guide and formulate the roadmap for a coherent policy on CSR....

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Constitution of High level Committee on Corporate Social responsibility -2018

F. No. 12/03/2018-CSR - (28/09/2018) - High Level Committee on Corporate Social Responsibility — 2018 (HLC-2018) is hereby constituted under the Chairmanship of Shri. Injeti Srinivas, Secretary, Ministry of Corporate Affairs (MCA) to review the existing framework and guide and formulate the roadmap for a coherent policy on CSR. The com...

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MCA amends Section 135 (CSR) of Companies Act, 2013 wef 19.09.2018

File No. 1/1/2018-CL-I - (19/09/2018) - MCA notifies Commencement of section 37 of Companies (Amendment) Act, 2017- Corresponding section of the Companies Act, 2013 for which is section 135 related to Corporate Social Responsibility. ...

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Recent Posts in "corporate social responsibility"

CSR Penalty Under Companies Act 2013

Penalty for non-compliance of CSR provisions under Companies Act, 2013 There is no specific penal provision for non-compliance under section 135 of the Act. However, there is risk exposure under two different provisions. A. Section 134(3)(o)& Section 134(8) (Non-disclosure or absence of the details about the CSR policy and its impleme...

Read More
Posted Under: Income Tax |

MCA amends Schedule VII of Companies Act, 2013

G.S.R.390(E). (30/05/2019)

Central Government hereby makes the following further amendments to Schedule VII of the said Act, namely:- In the said Schedule VII, after item (xi) and the entries relating thereto, the following item and entries shall be inserted, namely:-...

Read More

Corporate Social Responsibility | Section 135 of Companies Act 2013

Corporate Social Responsibility or CSR is a business model that company follows to integrate social and environmental concerns in their business operations. CSR is Company’s effort to pay back the stakeholders and public , who contributed in their growth and success. CSR cannot be termed as charity. It is a way to make social good [...

Read More
Posted Under: Income Tax |

Corporate Social Responsibility through Registered NGOs

Corporate Social Responsibility And Selection Of Organisation (NGOs) For Partnership; 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 ...

Read More
Posted Under: Income Tax |

Extension of Tenure of High Level Committee on CSR-2018

General Circular No. 02/2019 (08/03/2019)

The High Level Committee on Corporate Social Responsibility, 2018 was constituted under the Chairmanship of Secretary, Ministry of Corporate Affairs vide OM of even no. dated 22.11.2018 to review the existing framework and formulate a coherent policy on Corporate Social Responsibility....

Read More

Extension of time tor furnishing comments on CSR-2018

Extension of time for furnishing comments for consideration of High Level Committee on corporate on corporate social responsibility-2018 The Ministry of Corporate Affairs (MCA) has constituted a High Level Committee on Corporate Social Responsibility-2018 (HLC-2018) to review the existing framework and guide and formulate a coherent polic...

Read More
Posted Under: Income Tax |

CSR Expenses prior to 1st April 2015 Deductible from Total Income: ITAT

Bengal NRI Complex Ltd. Vs DCIT (ITAT Kolkata)

Bengal NRI Complex Ltd. Vs DCIT (ITAT Kolkata) Since the ‘CSR’ expenses are mandatory for companies incorporated as per the Companies Act, 2013 and the expenditure have been incurred by the assessee as envisaged under the Companies Act, 2013. So we are of the opinion that it has to be allowed and we take note […]...

Read More

Draft CSR Policy for private companies

Corporate bodies’ involvement in CSR activities is not a new concept in India. Industrial majors are engaged in social development activities since long back. However, the Companies Act, 2013 has brought it under the legal purview. ...

Read More
Posted Under: Income Tax |

CSR an Opportunity or Quibble? ALL about CSR

The Term Corporate Social Responsibility (CSR), if read in literal sense, means responsibility (duties) of Corporates (Judicial persons) towards Society (the public). CSR has been in existence for a long time and is almost as old as civilization....

Read More
Posted Under: Income Tax |

Re-Constitution of High Level Committee on CSR 2018

High Level Committee on Corporate Social Responsibility — 2018 (HLC-2018) is hereby re-constituted under the Chairmanship of Shri. Injeti Srinivas, Secretary, Ministry of Corporate Affairs (MCA) to review the existing framework and guide and formulate the roadmap for a coherent policy on CSR....

Read More

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