CSR

Received CSR notice – File Reply in eForm CFI (CSR)

Company 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....

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Corporate Social Responsibility (CSR) as Per Companies Act, 2013

Company 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)....

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CSR Amendments- MCA enhanced Clarification

Company 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....

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This Independence Day, let’s start contributing to Indian Security forces actively

Company 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....

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Corporate Social Responsibility: A Simple Analysis

Company Law - CSR Companies : Every company having net worth of rupees five hundred crore or more or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more during any financial year – Section 135(1) Meaning of Net Worth : The aggregate value of the paid-up share capital and […]...

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High Level Committee Constituted on CSR

Company 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)....

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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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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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Registration U/s. 12AA cannot be Rejected on the ground that trust formed to carry out CSR activities

Nanak 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....

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S.12AA Registration cannot be denied to Trust created to carry out CSR Activities

Nanak 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. ...

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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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Re-Constitution of High Level Committee on CSR 2018

High 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....

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MCA amends Section 135 (CSR) of Companies Act, 2013 wef 19.09.2018

File 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. ...

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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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Recent Posts in "CSR"

Re-Constitution of High Level Committee on CSR 2018

High 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 More

Received CSR notice – File Reply in eForm CFI (CSR)

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 More
Posted Under: Company Law |

High Level Committee Constituted on CSR

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 More
Posted Under: Company Law |

Corporate Social Responsibility (CSR) as Per Companies Act, 2013

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 More
Posted Under: Company Law |

CSR Amendments- MCA enhanced Clarification

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 More
Posted Under: Company Law |

MCA amends Section 135 (CSR) of Companies Act, 2013 wef 19.09.2018

File 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 More

This Independence Day, let’s start contributing to Indian Security forces actively

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 More
Posted Under: Company Law |

Corporate Social Responsibility: A Simple Analysis

CSR Companies : Every company having net worth of rupees five hundred crore or more or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more during any financial year – Section 135(1) Meaning of Net Worth : The aggregate value of the paid-up share capital and […]...

Read More
Posted Under: Company Law |

Registration U/s. 12AA cannot be Rejected on the ground that trust formed to carry out CSR activities

Nanak 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....

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Corporate Social Responsibility (CSR)- Brief Summary of Provisions

Background: Before enactment of Companies Act, 2013 Corporate Social Responsibility (CSR) expenditure is at the discretion of the corporate however after enactment of Section 135 of Companies Act 2013 such expenditure is made mandatory for certain corporate (Criteria given below)....

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Posted Under: Company Law |

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