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 It was highlighted that outdated informati...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)...
As we all know, in India, lakhs of NGO’s are registered to do social welfare activities. An NGO can be registered in the form of Trust, Society and Section 8 Company with Ministry of Corporate Affairs. Each year thousands of new NGO’s are registered but due to unawareness of activities/ proceedings to be done after […]
I am privileged to cover a news item from Times of India dated 24th September 2021 on release of latest digital Indian Sign language dictionary by our respected Prime Minister earlier this month. This throws more light on the far reach of the economy which has not done much to explain in sign language its […]
Appellant, during AY 2012-2013, paid a huge amount towards provision of toilet facilities in Government Schools where the children of employees of the Appellant were studying. While filing the returns for that year, the Appellant claimed the same amount as Corporate Social Responsibility (CSR) expenses and submitted that by incurring the expenses, its productivity improves and the loyalty of its employees are also ensured.
Many non-governmental organisations (NGOs) have limited fundraising options due to a lack of funding sources or targeted corporates willing to support projects with CSR funds. This is where CSR2life.com comes in: a digital CSR funding platform for social enterprises and non-governmental organisations (NGOs) fundraising for a cause. Why CSR2Life? If you are looking for an […]
Key points of provisions of Section 135 of Companies Act, 2013 [(Corporate Social Responsibility (CSR)] 1. Provisions of this section is applicable to all companies having turnover of Rs. 1000 crore or more or Net profit of Rs. 5 crore or more or Net worth of Rs. 500 crore or more in immediately preceding financial […]
Introduction Healthcare is a worldwide concern and not only an issue which alone can be handled by the government. With fast increment and complexity of medical problems it has turned into a critical requirement for corporates to step in and address these issues along-with the Government. Corporates along with other health related sectors should actively […]
Ignore amendments in Corporate Social Responsibility (CSR) provisions at your own risk ! CSR provisions are applicable to every company including its holding or subsidiary company having net worth of INR 500 crores or more or turnover of INR 1000 crores or more, or Net profit of INR 5 crores or more during the immediately […]
♦ APPLICABILITY: Every company having Net worth of Rs 500 cr. Or more or Turnover of Rs 1000 cr. or more or Net profit of Rs 5 cr. or more, during immediately preceding financial year shall constitute a separate CSR (CORPORATE SOCIAL RESPONSIBILITY) committee. However where the amount to be spent for CSR activities does […]
The Ministry (MCA) has issued Frequently Asked Questions (FAQs) on Corporate Social Responsibility (CSR) vide General Circular No. 14 /2021 dated 25th August 2021, in supersession of its earlier Clarifications/FAQs, for better understanding and facilitating effective implementation of CSR. Some Key insights from FAQs on CSR by MCA are as follows: Applicability: 1) Applicability of […]
In the Report of the High-Level Committee on Corporate Social Responsibility dated August 7, 2019, the Committee had given many recommendations. In its recommendation the committee recommended the following: The reporting for CSR needs to be strengthened, with enhanced disclosures for better information dissemination with respect to selection of projects, locations, implementing agencies to facilitate […]
