Company Law : Explore how corporate social responsibility (CSR) impacts consumer behavior and purchase decisions, enhancing brand loyalty and tr...
Company Law : Understand Section 135 of the Companies Act, 2013 with this comprehensive guide. Learn about CSR provisions, amendment rules, and ...
Company Law : Understand CSR expenditure regulations under Section 135 of the Companies Act, 2013. Learn about voluntary and mandatory contribut...
Company Law : Explore the legal and ethical dimensions of Corporate Social Responsibility (CSR) and its impact on businesses. Learn about compli...
Corporate Law : Explore how corporate governance influences corporate social responsibility (CSR) initiatives, including theoretical perspectives,...
CA, CS, CMA : Request for extension of time period for filing of Form CSR-2 for the financial year ended March 31, 2022 without levying addition...
CA, CS, CMA : ICSI Request for extension of time period for filing of Form CSR 2 for the financial year ended March 31, 2022 without levying add...
Company Law : There is no specific incentive mechanism in place to incentivise the effective utilisation of Corporate Social Responsibility (CSR...
Company Law : Under the current legal framework, there is no provision of social audit of Corporate Social Responsibility (CSR) expenditure made...
Company Law : There is no structured study carried out by the Ministry of Corporate Affairs (MCA) regarding impact of enforcement of Corporate S...
Income Tax : Detailed analysis of ABIS Export India Pvt Ltd Vs DCIT (ITAT Raipur) case regarding CSR expenses deduction under Sec. 80G. Explore...
Income Tax : Detailed analysis of Alubound Dacs India Private Limited vs. DCIT case before ITAT Mumbai regarding the allowance of Section 80G d...
Income Tax : Explore crucial rulings in case of Interglobe Technology Quotient Pvt Ltd vs ACIT (ITAT Delhi) regarding CSR expenditure disallowa...
Income Tax : Explore how ITAT Kolkata ruling on Britannia Industries Ltd. CSR contributions clarifies tax deductions under Section 80G....
Income Tax : In a recent decision, ITAT Mumbai allows Section 80G deduction on CSR expenses for Rustomjee Realty Pvt Ltd, challenging the disa...
Company Law : Read the detailed penalty order issued by the Registrar of Companies, Gujarat, Dadra & Nagar Haveli against Ganesh Green Bharat Li...
Company Law : Learn about penalties imposed by MCA under Companies Act 2013 for non-compliance with CSR spending regulations. Detailed analysis ...
Company Law : Dive into a detailed analysis of Clairvoyant India Private Limited violation of CSR provisions under Section 135(1) & 135(5) of th...
Company Law : Learn how MCA RD reduces penalty from 67.16 Lakh to 13.43 Lakh for unspent CSR fund transfer delays. Details of the case and groun...
Company Law : Ministry of Corporate Affairs reduces penalty by 90% for CSR fund transfer delay by Quest Global Engineering Services Pvt. Ltd. Le...
India is one of the first countries in the world to make Corporate Social Responsibility (CSR) mandatory for companies following an amendment to the Companies Act,2013 (Companies Act) in 2014. a. Applicability: Section 135(1) of Companies Act, 2013 prescribes thresholds to identify companies which are required to constitute a CSR Committee. b. The Provision of […]
Corporate Social Responsibility (CSR) | Section 135 of The Companies Act,2013 | The Companies (Corporate Social Responsibility Policy) Rules, 2014 Corporate Social Responsibility (CSR) aims to contribute to the well being of the society in which an entity operates. CSR can also be considered as corporate ethic strategy that helps the Company to improve its […]
Wherever the company undertakes the CSR activity through a third party / NGO, it is advised that all such companies should obtain an Independent Practitioner’s Report on Utilisation of such CSR Funds from the auditor / CA in practice of the third party / NGO, to whom the funds are given by the Company for implementing CSR activity.
MCA has notified vide Notification No. G.S.R. 313(E) 26/05/2020 that contribution to ‘Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund)’ will fall under CSR Activities wef 28th March 2020. Article analyses CSR Provisions and related amendments in view of Pandemic Covid-19. (i) Corporate Social Responsibility (CSR) The corporate beyond making […]
CORPORATE SOCIAL RESPONSIBILITY (CSR) UNDER SECTION 135 OF THE COMPANIES ACT, 2013 READ WITH THE COMPANIES (CORPORATE SOCIAL RESPONSIBILITY POLICY) RULES, 2014 WHAT IS THE CSR? CSR is a Concept whereby Companies not only consider their profitability and growth, but also the interests of society and the environment – by taking responsibility for the impact […]
MCA notifies PM CARES as eligible to receive CSR Corpuses of corporates as it amends Schedule VII of Companies Act, 2013 vide Gazette Notification dated 26th May, 2020 and included Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund) in Corporate Social Responsibility (CSR) Activities under Section 135 of Companies Act, 2013. […]
Updated extract of Section 135 Section 135 of COmpanies Act, 2013 alongwith SCHEDULE VII Notified Date of Section: 01/04/2014 Corporate Social Responsibility 135. (1) 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 […]
MEANING OF CORPORATE SOCIAL RESPONSIBILITY: “Corporate Social Responsibility” means and includes but is not limited to projects or program relating to activities specified in Schedule VII to The Act and projects or program relating to those activities which are undertaken by Board of directors of a company in ensuring the recommendation of the CSR Committee […]
The amount spent by a company towards CSR cannot be claimed as business expenditure. The Finance Act, 2014 provides that any expenditure incurred by an assessee on the activities relating to corporate social responsibility referred to in section 135 of the Companies Act, 2013 shall not be deemed to be an expenditure incurred by the assessee for the purposes of the business or profession. As per section 37(1) of Income Tax Act, 1961 the expenses incurred by the companies on CSR are taxable.
The issue under consideration is that whether the expenditure incurred for CSR will also be qualified for deduction under section 80G?
