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...
Section 135 of the Companies Act, 2013 and The Companies (Corporate Social Responsibility Policy) Rules, 2014 as amended from time to time provides for the provisions of Corporate Social Responsibility applicable on corporate entities in India. Applicability: Every Company which fulfils any of the following limits during the immediately preceding Financial Year: 1. Net worth: […]
Corporate Social Responsibility (CSR) under Companies Act 2013- Concept, Applicability, Provisions, Penalty The Companies Act 1956 replaced by the new Companies Act 2013. There are so many changes that came into force and several provisions inserted the first time in the corporate world of India. One of such new provisions is Corporate Social Responsibility (CSR) […]
Corporate Social Responsibility or commonly referred as CSR (hereinafter known as CSR Committee) is also called Corporate Citizenship or Corporate Responsibility which focuses on social issues, upliftment and its responsibility towards the society by maximizing the company’s positive impact and minimizing the negative impact on its social and physical environment. To look after the stakeholders […]
CORPORATE SOCIAL RESPONSIBILITY CSR is a concept whereby companies not only consider their profitability and growth, but also the interest of society and the environment by taking responsibility for the impact of their activities on stakeholders, environment, consumers, employees, communities, and all other members in the public sphere. The basic premise is that when the […]
Article explains Applicability of Corporate Social Responsibility (‘CSR’), B. Compliances to be undertaken upon applicability of CSR, Permitted Sectors for CSR, Methods of Implementation of CSR Amount, Proposed Amendments under Companies Amendment Act, 2019 (yet to be notified) which explains Treatment of the unspent CSR Amount and Introduces Penal Provisions. A. Applicability of Corporate Social […]
A clear distinction needs to be drawn between goods given as ‘gift’ and those provided /supplied as a part of CSR activities. While the former is voluntary and occasional, the later is obligatory and regular in nature. CSR expenses incurred by the applicant have been mandated under the Companies Act, 2013. It is the applicant’s obligation to incur such expenses in order to be in compliant with the law. Since CSR expenses are not incurred voluntarily, accordingly, we are of the opinion that they do not qualify as ‘gifts’ and therefore its credit is not restricted under Section 17(5) of the CGST Act, 2017.
Some Important Definitions: Goods means every kind of movable property other than money and securities but includes actionable claim, growing crops, grass and things attached to or forming part of the land which are agreed to be severed before supply or under a contract of supply. [Sec. 2(52) of CGST Act] Services means anything other […]
Article explains about Applicability of Corporate Social Responsibility (CSR) provisions, Constitution of Corporate Social Responsibility Committee, Amount Spend on Corporate Social Responsibility, Framing Corporate Social Responsibility Policy, Disclosure of Corporate Social Responsibility, How to Spend Amount on Corporate Social Responsibility Activities, Non- Applicability of Corporate Social Responsibility (CSR) provisions, Procedure for formation of Corporate Social […]
Applicability of Corporate Social Responsibility 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 during the immediately preceding financial year shall constitute a Corporate Social Responsibility Committee of the Board consisting of three […]
Ministry of Corporate Affairs, Government of India has instituted National Corporate Social Responsibility (CSR) Awards to recognize companies that have made a positive impact on the society through their innovative & sustainable CSR initiatives.
