Company Law : New MCA amendments permit companies to deploy a portion of CSR funds through Zero Coupon Zero Principal instruments listed on the ...
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 : The MCA has widened CSR eligibility by recognizing subscriptions to Zero Coupon Zero Principal Instruments as a valid CSR activity...
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 It was highlighted that outdated informati...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...
Income Tax : ITAT Mumbai held that eligible CSR donations qualify for Section 80G deduction if statutory conditions are met, despite disallowan...
Income Tax : The ITAT held that depreciation on goodwill arising from amalgamation could not be disallowed in subsequent years after it had bee...
Income Tax : ITAT Delhi held that donations forming part of CSR expenditure are eligible for deduction under Section 80G if the statutory condi...
Income Tax : The ITAT held that foreign exchange gains arising from realization of export proceeds from services rendered to associated enterpr...
Income Tax : Delhi ITAT held that donations qualifying under Section 80G do not lose eligibility merely because they form part of Corporate Soc...
Company Law : ROC Cuttack held that responsibility for inaccurate information in e-forms rests with the authorised signatory and certifying prof...
Company Law : MCA amends Schedule VII of the Companies Act to include subscription to zero coupon zero principal instruments on Social Stock Exc...
Company Law : MCA has amended the CSR Rules to recognize zero coupon zero principal instruments issued by Social Stock Exchange-listed NPOs. The...
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...
Understand the eligibility of Input Tax Credit (ITC) on Corporate Social Responsibility (CSR) expenses in GST. Explore the background of CSR expenses, analysis of provisions in the Income Tax Act and GST Act, and evaluate the criteria for claiming ITC. Get insights into the complexities and restrictions to ensure compliance with the Companies Act, 2013, and GST Act, 2017.
Delhi High Court held that donations to institutions other than the one enlisted in Schedule (VII) of the Companies Act, 2013 is not deductible as Corporate Social Responsibility.
CSR expense disallowance is restricted to expenses incurred by assessee under statutory obligation u/s.135 of companies Act 2013 and it doesn’t apply to expenditure incurred in discharge of corporate social responsibility (CSR) on voluntarily basis.
That it is eligible to claim ITC on the CSR expenditure spent by it since it is spent in accordance with the provisions laid down by Companies Act, 2013. CSR expenses incurred by the applicant have been mandated under the Companies Act, 2013.
The expenditure made towards corporate responsibility under section 135 of the Companies Act, 2013, is an expenditure made in the furtherance of the business. Hence the tax paid on purchases made to meet the obligations under corporate social responsibility will be eligible for input tax credit under CGST and SGST Acts.
Learn about the latest changes in the Companies (CSR Policy) Amendment Rules, 2022. Understand the impact on CSR Committees and compliance with Companies Act, 2013.
Let’s begin with the meaning of Corporate Social Responsibility (CSR). When the companies get bigger in size, apart from the economic responsibility of earning profits, there are some social responsibilities which the companies shall also consider in order to fulfil the expectations of society.
It has made mandatory for the Company to ensure the Constitution of CSR Committee and compliance of sub-section (2) to (6) of Section 135 to ensure that the Company complies with CSR initiative w.r.t to the unspent Amount.
GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS, OFFICE OF REGISTRAR OF COMPANIES, NCT OF DELHI & HARYANA 4TH FLOOR, IFCI TOWER, 61, NEHRU PLACE, NEW DELHI -110019 No. ROC/D/Adj Order/Section 135/Comviva/5702-5710 Dated: 27.09.2022 Order for Penalty for Violation of Section 135 of the Companies Act, 2013 IN THE MATTER OF COMVIVA TECHNOLOGIES LIMITED (U72200HR1999PLC041214) 1 […]
Understand the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2022. Learn about the criteria for CSR eligibility and the significance of CSR in business.
