Company Law : New MCA amendments permit companies to deploy a portion of CSR funds through Zero Coupon Zero Principal instruments listed on the ...
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 : The MCA has widened CSR eligibility by recognizing subscriptions to Zero Coupon Zero Principal Instruments as a valid CSR activity...
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 It was highlighted that outdated informati...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...
Income Tax : ITAT Mumbai held that eligible CSR donations qualify for Section 80G deduction if statutory conditions are met, despite disallowan...
Income Tax : The ITAT held that depreciation on goodwill arising from amalgamation could not be disallowed in subsequent years after it had bee...
Income Tax : ITAT Delhi held that donations forming part of CSR expenditure are eligible for deduction under Section 80G if the statutory condi...
Income Tax : The ITAT held that foreign exchange gains arising from realization of export proceeds from services rendered to associated enterpr...
Income Tax : Delhi ITAT held that donations qualifying under Section 80G do not lose eligibility merely because they form part of Corporate Soc...
Company Law : ROC Cuttack held that responsibility for inaccurate information in e-forms rests with the authorised signatory and certifying prof...
Company Law : MCA amends Schedule VII of the Companies Act to include subscription to zero coupon zero principal instruments on Social Stock Exc...
Company Law : MCA has amended the CSR Rules to recognize zero coupon zero principal instruments issued by Social Stock Exchange-listed NPOs. The...
Company Law : ROC Haryana ruled that non-transfer of unspent CSR amount within six months from the close of the financial year constituted a vio...
Company Law : ROC Kolkata penalized a company and its directors for delayed transfer of unspent CSR funds to the Swachh Bharat Kosh. The order h...
Compliance Relaxation to Business to Lessen Hardship of Covid 19 Wave-by Ministry of Corporate Affairs A. Circular No. 09/2021 dated 05/05/2021 – Covid 19 Relaxation ON CSR activities Following spending of CSR fund are eligible CSR activity under item nos. (i) and (xii) of Schedule VII of the Companies Act, 2013: creating health infrastructure for […]
Corporate Social responsibility (CSR) is continuing commitment by businesses to integrate social and environmental concerns in their business operations. On April 1, 2014, India became the first country to legally mandate corporate social responsibility.
CSR funds for ‘creating health infrastructure for COVID care’, ‘establishment of medical oxygen generation and storage plants’, ‘manufacturing and supply of Oxygen concentrators, ventilators, cylinders and other medical equipment for countering COVID-19’ or similar such activities are eligible CSR – General Circular No. 09/2021 Date: 05th May 2021. Full text of the Circualr is as […]
Dear friends, as per Notification issued by Ministry of Corporate Affairs dated 22nd January 2021, it is mandatory for all NGO’s which wants to raise CSR Funding to enrol with MCA w.e.f 01/04/2021 to get CSR Funding. As per this notification from 01 April 2021 onwards, every entity, covered under sub-rule (1), who intends to undertake any […]
ICSI Request for extension of timelines for depositing unspent amount of ongoing CSR project in separate bank account under Section 135 of the Companies Act, 2013 due to the second wave of COVID-19
Comparative study and inter linking on Corporate Social Responsivity (CSR) and Sustainable Development Goals (SDGs) Brief Introduction CSR (Schedule VII of Companies Act) In India, CSR got its legal backing by virtue of Section 135 of companies Act 2013. Section 135 of the companies Act is from financial year 2014. India is one of the first few nations to […]
FAQs FOR CSR u/s 135 of Companies Act, 2013 (Updated till 24/04/2021) 1. What is Applicability of CSR Committee and what shall be its constitution & Functions? Applicability ♦ As per Section 135 (1) every Company falling under bellow criteria in Previous Financial Year need to constitute CSR Committee: Turnover Rs. 1000 Cr or More […]
In a recent ruling, the Uttar Pradesh Authority for Advance Ruling (‘AAR’) has ruled that Input Tax Credit (ITC) shall be available on expenses incurred to comply with the requirements of Corporate Social Responsibility (CSR) under Companies Act, 2013 (CSR Expenses).
MCA issued General Circular No. 05/ 2021 dated 22nd April, 2021, wherein it has been clarified that spending for ‘setting up COVID Care facilities & makeshift hospitals’ is an eligible CSR activity.
Corporate Social Responsibility literally means the responsibility of Corporates towards Society. Its an opportunity for big corporates to do their part to the society either voluntarily or through the compulsion under CSR. Section 135(1) of the Companies Act 2013, deals with the CSR provisions and constitution of CSR committee. Here we would be discussing the […]
