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 It was highlighted that outdated informati...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 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 ...
Income Tax : The issue was whether CSR expenditure qualifies for deduction under section 80G. The Tribunal held that deduction is allowable as ...
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...
Company Law : The regulator held that non-spending of CSR amounts and failure to transfer unspent funds within timelines violates section 135. S...
Company Law : The regulator held that failure to spend CSR funds or transfer unspent amounts within statutory timelines violates sections 135(5)...
MCA has issued notification on 11th February 2022 called as Companies (Account) Amendment Rules 2022. Ministry has introduced a new form CSR-2 by these new rules. Further, made insertion in Rule 12 of such rules. One more step towards CSR Reporting, One more amendment, one more Circular A. Applicability: This new Rule shall be applicable […]
Key points to keep in mind and information to keep ready before filing Form CSR-2 1. The form is a Web based form to be filed for the F.Y.-2020-21 and, for the upcoming years the form shall be filed as an attachment to for AOC-4, AOC-4 (XBRL), AoC-4 (NBFC). 2. SRN of form AOC-4/ AoC-4 […]
Eligibility of Input Tax Credit (ITC) on Corporate Social Responsibility (CSR) Expenses Under GST 1. Introduction: – Goods & Services Tax (GST) is regarded as the most ambitious and remarkable indirect tax reform in India’s post-independence history. The GST regime is based on uninterrupted and seamless flow of Input Tax Credit (ITC) in order to […]
The MCA vide its notification dated 11th February, 2022 has notified Companies (Accounts) Amendment Rules, 2022 which shall come into force from 11th February 2022. In the Companies (Accounts) Rules, 2014, after Rule 12 (1A) the following shall be inserted: “(1B) Every company covered under the provisions of sub-section (1) to section 135 shall furnish […]
One more step towards CSR Reporting, One more amendment, one more Circular and one more Compliance in the CSR world… Its time to facelift in the reporting manner & method of CSR Compliance and It seems that the Govt of India through MCA is keen to know about the CSR spending, CSR projects, CSR Implementing […]
Central Government notifies new FORM CSR-2- Report on Corporate Social Responsibility (CSR) and notifies rules 12(1B) and provided that Every company covered under the provisions of sub-section (1) to section 135 shall furnish a report on Corporate Social Responsibility in Form CSR-2 to the Registrar for the preceding financial year (2020-2021) and onwards as an […]
Sec. 135 which provides for Corporate Social Responsibility and Schedule VII of the Companies Act, 2013 and Rules made thereunder are mandatory compliance that needs to be done by all Companies irrespective Listed, Public of Private which fulfils applicability criteria. Here are some deliberations of CSR for your ready reference: “Corporate Social Responsibility (CSR)” means […]
The survey indicates that companies are keen to dedicate funds towards projects that can create the maximum impact and according to the key findings, companies are directing majority of their funds towards imparting employability skills to School or College Dropouts (22.8%), Women (20.4%), and People with Disabilities (18%).
Part I – Law(s) Governing the eForm CFI – Reply To Call for Information on CSR Rule Number(s) Section 206 of the Companies Act, 2013 regarding compliance of provisions of Corporate Social Responsibility (CSR) u/s 135 r/w section 1 34(3)(o) of the Act. Section 206: (1) Where on a scrutiny of any document filed by […]
Part I – Law(s) Governing the eForm CSR-1 Section and Rule Number(s) eForm CSR-1 is required to be filed pursuant to Section 135 of the Companies Act, 2013 and Rule 4 (1) and (2) of the Companies (Corporate Social Responsibility Policy) Rules, 2014. Purpose of the eForm CSR-1 In accordance with the Companies (Corporate Social […]
