2 corporate social responsibility

corporate social responsibility - Page 20

Updates on Corporate Social Responsibility Amendment Rules, 2021

Updates on Corporate Social Responsibility Amendment Rules, 2021 Ministry of Corporate Affairs has issued Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021 and in order to bring transparency and increase the accountability of the Companies required undertaking CSR Activities following major amendments have been made...

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Posted Under: Company Law |

Analysis of Companies (CSR Policy) Amendment Rules, 2021

MCA has amended the Companies (CSR Policy) Rules, 2014 through notification dated January 22, 2021. It shall be noted that the MCA has brought major changes in the Companies (CSR) Rules, 2014 through Companies (CSR) Amendment Rules, 2021....

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Posted Under: Company Law |

MCA notifies amendment to Companies Act, 2013 wef 22.01.2021

Notification No. S.O. 325(E). 22/01/2021

Central Government hereby appoints the 22nd day of January, 2021 as the date on which the following provisions of the said Act shall come into force, namely:-...

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Amendment to Section 135 of Companies Act, 2013 wef 22.01.2021

Notifications No. S.O. 324(E) 22/01/2021

MCA notifies 22nd day of January, 2021 as the date on which the provisions of section 21 of Companies (Amendment) Act, 2019 shall come into force. Section 21 deals with Amendment of section 135 of Companies Act, 2013 related to Corporate Social Responsibility. Also Read – Companies (Corporate Social Responsibility Policy) Amendment ...

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Companies (CSR Policy) Amendment Rules, 2021

Notification No. G.S.R. 40(E). 22/01/2021

(1) These rules may be called the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021. (2) They shall come into force on the date of their publication in the Official Gazette unless explicitly provided elsewhere in this notification....

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ICAI Releases Handbook on Audit of CSR Activities

Handbook on Audit of CSR Activities, has been published by the ICAI in an effort to guide the members in meeting the expectations of the professionals and the stakeholders in this respect. ...

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Posted Under: Company Law |

Spending on CSR for COVID-19 Vaccination public outreach is valid CSR activity

General Circular No. 01/2021 13/01/2021

Spending of CSR funds for carrying out awareness campaigns/programmes or public outreach campaigns on COVID-19 Vaccination programme is an eligible CSR activity...

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ITAT explains CSR expenditure Allowability under section 37

Add. CIT Vs Rites Limited (ITAT Delhi)

 Addl. CIT Vs Rites Limited (ITAT Delhi) AO has disallowed claim of the assessee company qua CSR expenditure by misinterpreting the provisions contained under section 37(1) of the Act by observing that since CSR expenditure is not incurred for the purpose of carrying on the business, such expenditure cannot be allowed under the existing ...

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CSR Expense by Govt Company to Comply with Govt directions is allowable

Addl. CIT Vs Rites Limited (ITAT Delhi)

Addl. CIT Vs M/s. Rites Limited (ITAT Delhi) Perusal of the assessment orders goes to prove that AO has mechanically disallowed the claim of expenditure made by the assessee company towards Corporate Social Responsibility (CSR) and sustainable development without analyzing the fact that assessee company being a Government undertaking is r...

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CSR expense allowable till assessment year 2014-15

Hindustan Tin Works Ltd. Vs DCIT (ITAT Delhi)

Hindustan Tin Works Ltd. Vs DCIT (ITAT Delhi) The Explanation -2 has been inserted below the section 37 (1) of the Act with effect from 01/04/2015 i.e. assessment year 2015-16. According to the said Explanation, corporate social responsibility expenditure incurred shall not be deemed to be incurred wholly and exclusively for the purpose o...

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