corporate social responsibility

Accounting and Legal Aspects of Corporate Social Responsibility Provisions

Company Law - The CSR Rules (Rules) state that every company including its holding or subsidiary, as well as foreign companies having a project office/branch in India, meeting certain criteria i.e. during any financial year, is required to comply with the CSR provisions....

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Corporate Social Responsibility-An Overview

Company Law - In the article an effort has been to summarize all the provisions relating to Corporate Social Responsibility Activity under the Companies Act, 2013....

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Corporate Social Responsibility – A Brief Synopsis

Company Law - Applicability of Corporate Social Responsibility: Every company having net worth of Rs. 500 crore or more, or turnover of Rs. 1000 crore or more or a net profit of Rs. 5 crore or more during any financial year. Every company including its holding or subsidiary, and a foreign company having its branch office or project […]...

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Control Framework For Corporate Social Responsibility (CSR)

Company Law - Corporate Social Responsibility (CSR), should, on one hand, reflect the Corporate Philosophy and on the other hand should ensure implementation of those activities which would meet the expectations of the society and the region in which the company functions....

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CSR Responsibility: A Myth or Reality?

Company Law - Corporate social responsibility is related to, but not identical with, business ethics. While CSR encompasses the economic, legal, ethical, and discretionary responsibilities of organizations, business ethics usually focuses on the moral judgments and behavior of individuals and groups within organizations....

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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 is getting mainstreamed through Companies Act 2013

Company Law - The Minister of State (MoS) for Finance and Corporate Affairs, Shri Arjun Ram Meghwal, says Corporate Social Responsibility (CSR) is getting mainstreamed through the Companies Act 2013. This landmark legislation has brought the issue of CSR from back rooms of corporates to their Board rooms ...

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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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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 Steering Committee gets 1 Month extension to submit its report

F.No. 12/08/2018-CSR (Part file) - (31/05/2018) - Steering Committee on CSR was required to submit its report by 03.06.2018. However, as per the request from the Convener of the Committee, the tenure is extended to one month. It is expected that Committee to submit its report within the extended time period positively....

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Constitution of Steering Committee on CSR

F. No. 12/03/2018-CSR (Part File) - (04/04/2018) - A Committee on CSR is hereby constituted under the Chairmanship of Shri. Manmohan Juneja, RD (WR) to review the functioning of CSR enforcement & to recommend a uniform approach for its enforcement. ...

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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"

Accounting and Legal Aspects of Corporate Social Responsibility Provisions

The CSR Rules (Rules) state that every company including its holding or subsidiary, as well as foreign companies having a project office/branch in India, meeting certain criteria i.e. during any financial year, is required to comply with the CSR provisions....

Read More
Posted Under: Company Law |

CSR Steering Committee gets 1 Month extension to submit its report

F.No. 12/08/2018-CSR (Part file) (31/05/2018)

Steering Committee on CSR was required to submit its report by 03.06.2018. However, as per the request from the Convener of the Committee, the tenure is extended to one month. It is expected that Committee to submit its report within the extended time period positively....

Read More

Corporate Social Responsibility-An Overview

In the article an effort has been to summarize all the provisions relating to Corporate Social Responsibility Activity under the Companies Act, 2013....

Read More
Posted Under: Company Law |

Constitution of Steering Committee on CSR

F. No. 12/03/2018-CSR (Part File) (04/04/2018)

A Committee on CSR is hereby constituted under the Chairmanship of Shri. Manmohan Juneja, RD (WR) to review the functioning of CSR enforcement & to recommend a uniform approach for its enforcement. ...

Read More

199 companies face penalty for non-compliance of CSR norms

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 [&...

Read More
Posted Under: Company Law |

Corporate Social Responsibility – A Brief Synopsis

Applicability of Corporate Social Responsibility: Every company having net worth of Rs. 500 crore or more, or turnover of Rs. 1000 crore or more or a net profit of Rs. 5 crore or more during any financial year. Every company including its holding or subsidiary, and a foreign company having its branch office or project […]...

Read More
Posted Under: Company Law |

Allow deduction for Corporate Social Responsibility Costs: ICAI

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...

Read More
Posted Under: Company Law |

Control Framework For Corporate Social Responsibility (CSR)

Corporate Social Responsibility (CSR), should, on one hand, reflect the Corporate Philosophy and on the other hand should ensure implementation of those activities which would meet the expectations of the society and the region in which the company functions....

Read More
Posted Under: Company Law |

CSR Responsibility: A Myth or Reality?

Corporate social responsibility is related to, but not identical with, business ethics. While CSR encompasses the economic, legal, ethical, and discretionary responsibilities of organizations, business ethics usually focuses on the moral judgments and behavior of individuals and groups within organizations....

Read More
Posted Under: Company Law |

CSR – Global Issues and National Significance

Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large. The analysis of the above-mentioned definition provides us with the clear pictur...

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Posted Under: Company Law |
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