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. ...
Read MoreCompany Law - Ministry of Corporate Affairs (#MCA) has issued a new form under the provision of Companies Act, 2013 has issued a new eForm CFI (CSR) to enable the reply towards the CSR Notice received by the Company....
Read MoreCompany Law - Companies Act, 2013 has formulated Section 135, Companies (Corporate Social Responsibility) Rules, 2014 and Schedule VII which prescribes mandatory provisions for Companies to fulfil their CSR. This article aims to analyse these provisions (including all the amendments therein)....
Read MoreCompany Law - Corporate Social Responsibility is an idea that has been a concern to mankind for many years. However, over the last two decades it has become an increasing concern to the business world. With the introduction of Section 135 in the Companies Act, 2013, India is striving to implement CSR in the Corporates in latter and spirit....
Read MoreCompany Law - Deduction under Section 80G: Every taxpayer can make contribution/donation to specific funds in order to claim deduction from his Gross Total Income to reduce the tax liability. Contributions made to certain relief funds and charitable institutions can be claimed as a deduction under Section 80G of the Income Tax Act....
Read MoreCompany 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)....
Read MoreCompany 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 [&...
Read MoreCompany 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 ...
Read MoreCompany 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....
Read MoreCompany 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...
Read MoreBengal 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...
Read MoreNanak Chand Jain Charitable Trust Vs CIT (ITAT Delhi) - These appeals are filed by the assessee against the orders dated 27/9/20 16 u/s 12AA of the Income Tax Act, 1961 & order dated 28/9/20 16 u/s 80 G(5) (vi) of the Income Tax Act, 1961 passed by the Commissioner of Income Tax (Exemptions), Chandigarh....
Read MoreNanak Chand Jain Charitable Trust Vs. CIT(E) (ITAT Delhi) - Just because the trust has been formed for complying CSR requirements it cannot per se be the reasons for denying registration under Section 12AA of the Income Tax Act. ...
Read MoreACIT 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 ...
Read MoreGeneral 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 MoreOrder No. 11/02/2018-CSR - (07/01/2019) - Re-Constitution and Re-naming of Advisory Group of National Foundation for Corporate Social Responsibility (NFCSR) as Governing Council, NFCSR...
Read MoreOrder No. 11/ 02/ 2018-CSR - (07/01/2019) - Pursuant to the approval of Hon'ble Minister of Corporate Affairs, a restructured Steering Committee of National Foundation for Corporate Social Responsibility (NFCSR) is hereby constituted to prepare a roadmap, oversee the functioning and steer the activities of NFCSR for providing policy inputs an...
Read MoreHigh 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 MoreFile 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. ...
Read MoreGeneral Circular No. 02/2019 - (08/03/2019) -
Bengal NRI Complex Ltd. Vs DCIT (ITAT Kolkata) -
Order No. 11/02/2018-CSR - (07/01/2019) -
Order No. 11/ 02/ 2018-CSR - (07/01/2019) -