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 It was highlighted that outdated informati...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)...
In order to have better Corporate Governance and Compliance, one-time registration in a simple E-Form CSR-1 is mandatory applicable to all the Registered Societies, Registered Trusts and Registered Section 8 Companies and other entities who is engaged in CSR (Corporate Social Responsibility) activities/ funding. Through this article, the author purports to analyze the provisions and […]
CSR Policy Amendment Rules 2021 And CSR Amendments in Companies (Amendment) Act, 2020 INTRODUCTION The Ministry had set up a High-Level Committee on CSR in 2018 chaired by then Secretary, Corporate Affairs Injeti Srinivas for amending the law aimed to strengthen the Corporate Social Responsibility ecosystem, by improving and strengthening disclosures and by simplifying compliances. […]
♦ Applicability of the CSR: 1. Every Company having – Net worth of Rs. 500 crore or more, or – Turnover of Rs. 100 crore or more, or – net profit of Rs. 5 crore or more during the immediately preceding financial year shall constitute Corporate Social Responsibility Committee Meeting. 2. Every Company including its […]
Comparative study on Schedule VII of Companies Act, 2013 vis-a- vis UN SDG vis vis Income Tax Provision (refer to provisions relating to Charitable Institutions / Trusts / NGOs / Section 8 companies) and also mention projects / activities, clause wise, which can be covered under the different Clauses of Schedule VII presented in tabular form. […]
Expenditure on COVID-19 Healthcare facilities and Infrastructure counted under CSR Expenditure Pursuant to the General Circular No. 09/2021, issued by Ministry of Corporate Affairs, on 5th May, 2021, and in continuation to the General Circular No. 10/2020, as issued on 23rd of March 2020, the MCA hereby elaborated on various health related expenditures that can […]
Section 135 Corporate Social Responsibility Constitution of CSR Committee (1) Every company having -Net worth of Rs. 500 crore or more, or -Turnover of Rs.1000 crore or more or -Net profit of Rs.5 crore or more during the immediately preceding financial year shall constitute a CSR Committee of the Board consisting of three or more […]
Corporate Social Responsibility (CSR) is a concept whereby organizations consider the interest of society by taking responsibility for the impact of their activities on customers, suppliers, employees, shareholders, communities, and other stakeholders as well as the environment. Nowadays’ companies adopt CSR for various benefits like: 1) Securing strong relationship with stakeholders, 2) To increase attractiveness […]
Thus, CSR is one of the primary means of achieving the goal of sustainable development for all nations today. The Brundtland report highlighted three key components of sustainable development, environment and economy and society. A number of important sustainable development proposals have also been highlighted and SD and CSR initiatives can be linked as follows:
Frequently Asked Question on Accounting for amounts to be incurred towards Corporate Social Responsibility (CSR) pursuant to the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021 This FAQ has been issued by the Accounting Standards Board of the Institute of Chartered Accountants of India. Question : On January 22, 2021, the Ministry of Corporate Affairs […]
In this editorial, the author is discussing the provisions of the Corporate Social Responsibility concerning CoVID 19 (Corona). As many questions have been received from the professional in respect of using the CSR funds for CoVID related activities. We have accumulated all the circulars of MCA and offering below for clarification regarding the same. I. […]
