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 It was highlighted that outdated informati...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)...
The PCIT sought to revisit claims already scrutinized and partly disallowed. The Tribunal ruled this to be a change of opinion and invalid. Revision demands clear error and prejudice, not reappraisal.
The adjudicating authority penalised delayed transfer of unspent CSR amounts beyond the statutory timeline. The ruling underscores strict enforcement of CSR fund transfer obligations.
The Tribunal held that CSR expenditure disallowed as business expense can still qualify for deduction under Section 80G. The key takeaway is that both provisions operate at different stages of computation.
ITAT held that CSR expenditure disallowed under section 37 can still qualify for deduction under section 80G. The ruling clarifies that both provisions operate independently.
The Tribunal held that denial of CSR expenditure under Section 37 does not bar deduction under Section 80G. It ruled that eligible donations forming part of CSR must be examined under Chapter VI-A independently. The key takeaway is that CSR-linked donations can still qualify for tax relief if statutory conditions are met.
Public and private companies in Bihar increasingly invest in CSR, with key districts receiving substantial social development funding under Section 135 of the Companies Act.
Falcon Marine Exports Limited and officers were penalized for failing to disclose CSR policy, committee composition, and under-spending reasons in the Board Report.
Explains the strict consequences for failing to meet CSR spending and transfer obligations under Section 135. Highlights how penalties are imposed and the key compliance takeaway for companies.
The Tribunal ruled that CSR expenses donated to recognized charitable institutions satisfy the conditions of Section 80G. It emphasized that statutory CSR obligations do not interfere with 80G eligibility and directed allowance of the deduction.
Section 135 mandates companies above certain thresholds to spend 2% of profits on social initiatives, establish CSR committees, and disclose activities in annual reports for transparency and accountability.
