Corporate Law : India transformed CSR into a statutory obligation under Section 135. This shift raises key questions on its role in governance and...
Company Law : A comprehensive guide to applicability, 2% spending rule, governance structure, compliance requirements, and penalties under Secti...
Company Law : Understand CSR obligations under Section 135, including eligibility, expenditure, and reporting. Key takeaway: Proper CSR complian...
Company Law : Explains the strict consequences for failing to meet CSR spending and transfer obligations under Section 135. Highlights how penal...
Company Law : Section 135 mandates companies above certain thresholds to spend 2% of profits on social initiatives, establish CSR committees, an...
Company Law : The issue concerns the inability to update trust details in CSR-1 registration records. It was highlighted that outdated informati...
Company Law : Public and private companies in Bihar increasingly invest in CSR, with key districts receiving substantial social development fund...
Company Law : The Ministry of Corporate Affairs confirms that CSR expenditure data for the last five years is publicly available on its CSR port...
Company Law : Government penalized companies for CSR non-compliance under the Companies Act. Details of penalties, CSR spending, and fund transf...
Company Law : Overview of proposed amendments in the Companies Act, 2013, CSR monitoring framework, and steps to ensure compliance and prevent m...
Income Tax : The ITAT held that CSR expenditure disallowed as business expenditure under Section 37(1) can still qualify for deduction under Se...
Income Tax : The issue was whether CSR expenditure disallowed under Section 37(1) can still qualify under Section 80G. The Tribunal held that b...
Income Tax : The Court held that reassessment based solely on an audit objection is invalid as it constitutes a change of opinion. It emphasize...
Income Tax : ITAT held that CSR contributions can qualify for deduction under Section 80G if conditions are met. The ruling clarifies that ther...
Income Tax : ITAT held that revision under Section 263 cannot be invoked when the Assessing Officer has already examined the issue. The ruling ...
Company Law : ROC Haryana ruled that non-transfer of unspent CSR amount within six months from the close of the financial year constituted a vio...
Company Law : ROC Kolkata penalized a company and its directors for delayed transfer of unspent CSR funds to the Swachh Bharat Kosh. The order h...
Company Law : The authority penalized the company for failing to transfer unspent CSR funds within the statutory deadline. It held that delayed ...
Company Law : The authority penalized the managing director for wrongly declaring CSR as not applicable in financial filings. It held that signa...
Company Law : The adjudicating authority penalised a company for not spending mandatory CSR funds and failing to transfer unspent amounts on tim...
Corporate Social Responsibility Benefiting Employees (CSR) Series – Part 1 Corporate Social Responsibility (CSR) activity means an activity undertaken by a company in pursuance of its statutory obligation laid down in Sec 135 of the Companies Act. The Corporate Social Responsibility (CSR) Amendment Rule 2021 vide Rule 2(d)(iv) excludes the activities benefitting employees of the […]
Amount to be contributed as specified under Companies Act, 2013? Section 135 provides that the companies, which are mandatorily required to spend towards CSR, shall spend at least 2% of their Average Net Profit (Calculated under section 198, and shall be exclusive of such sums as provided under CSR rules) of the preceding 3 Financial […]
In this article, we shall be discussing that what is the CSR-1 Form and what documents are required to be attached along with these form and what are the pre-requirements for the NGOs/ Trusts and Section 8 companies for filing of the CSR-1 Form E Form CSR-1 After the publication of the Notification by Ministry of […]
CSR which stands for Corporate Social Responsibility is a very related and relevant point of discussion amongst the professionals in the current scenario of the world specially in India. It has become a jargon amongst the companies. Through CSR, Companies can help the whole world sincerely and positively during the pandemic time as well as […]
Nowadays apart from Covid negative news, we also read some positive news about how people helping each other to cope up from this pandemic. From farmers to businessman to companies, everyone helping the society or government through the way convenient to them. Everyday in newspapers or through social media we read about companies coming ahead […]
An appeal dated 30.03.2020 was made to MDs/CEOs of top 1000 companies to contribute generously to “Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund” (PM CARES Fund). In the appeal, it was mentioned that such contribution may, inter-alia, include the unspent CSR amount, if any, and any amount over and above the minimum […]
Several representations have been received in the Ministry for setting off the excess CSR amount spent by the companies in FY 2019-20 by way of contribution to ‘PM CARES Fund’ against the mandatory CSR obligation for FY 2020-21.
In exercise of the powers conferred by section 135 and sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Ministry of Corporate Affairs came with rules namely Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021 further to amend the Companies (Corporate Social Responsibility Policy) Rules, 2014 vide Notification issued by Ministry of […]
In order to have better Corporate Governance and Compliance, one-time registration in a simple E-Form CSR-1 is mandatory applicable to all the Registered Societies, Registered Trusts and Registered Section 8 Companies and other entities who is engaged in CSR (Corporate Social Responsibility) activities/ funding. Through this article, the author purports to analyze the provisions and […]
CSR Policy Amendment Rules 2021 And CSR Amendments in Companies (Amendment) Act, 2020 INTRODUCTION The Ministry had set up a High-Level Committee on CSR in 2018 chaired by then Secretary, Corporate Affairs Injeti Srinivas for amending the law aimed to strengthen the Corporate Social Responsibility ecosystem, by improving and strengthening disclosures and by simplifying compliances. […]
