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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....
Read MoreCompany 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....
Read MoreCompany Law - Rapid urbanizationis one of the major factor in which our country is facing a massive waste management challenge today. India suffers from inadequate waste infrastructure and a tremendous increase in solid waste generation per capita. Segregation of waste at source and resource recovery is the key to well- established waste management pra...
Read MoreCompany Law - CS Deepak Pratap Singh 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 , who is the true beneficiary of our donation or charity. The fac...
Read MoreCompany Law - With the introduction of Corporate Social Responsibility provisions, many corporate consider this provision to be a burden on them. ...
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 MoreCompany Law - Cost Accounting Standards Board (CASB) releases Exposure Draft of Guidance Note on ‘Treatment of Costs Relating to Corporate Social Responsibility (CSR) Activities ‘. Cost Accounting Standards Board (CASB), the standard-setting body of the Institute, has approved the release of Exposure Draft of Guidance Note on ‘Treatment o...
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 MoreF. 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 MoreNotification 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...
Read MoreGeneral 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...
Read MoreNotification No. G.S.R. 741 (E) - (24/10/2014) - (i) In item (i), after the words and sanitation, the words including contribution to the Swach Bharat Kosh set-up by the Central Government for the promotion of sanitation shall be inserted; (ii) In item (iv), after the words and water, the words including contribution to the Clean Ganga Fund set...
Read MoreOffice Memorandum No.15 (13)/2013-DPE (GM) - (21/10/2014) - The Government of India enacted the Companies Act 2013 in August 2013. Section 135 of the Companies Act 2013 (hereinafter referred to as ‘the Act) deals with the subject of Corporate Social Responsibility (CSR). It lays down the qualifying criteria based on net worth, turnover, and net profit for...
Read MoreF. No. 12/03/2018-CSR (Part File) - (04/04/2018) -
Nanak Chand Jain Charitable Trust Vs. CIT(E) (ITAT Delhi) -
Schedule VII of Companies Act, 2013 - (Ni/l/) -
