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 It was highlighted that outdated informati...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...
CSR Policy – A statement containing the approach and direction given by the board of a company, taking into account the recommendations of its CSR Committee, and includes guiding principles for selection, implementation and monitoring of activities as well as formulation of the annual action plan;
APPLICABILITY CORPORATE SOCIAL RESPONSIBILITY As per Section 135 (1) following companies in immediately preceding Financial Year: > Having net-worth of Rs. 500 Crores or; > Having Turnover of Rs. 1000 Crores or; > Having net profit of Rs. 5 Crores shall constitute a Corporate Social Responsibility Committee of the Board consisting of three or more […]
The Government has made changes to the Corporate Social Responsibility (CSR) Rules and the recent amendments in the Companies (CSR Policy) Rules, 2014 have been notified on 22nd January 2021.
Q.1 The Company is required to spend Rs.10 Lac before 31 March 2021 as part of CSR spend. The Company will transfer this Rs.10 Lac to an Implementing Agency on or before 31 March 2021 , however the Implementing Agency will be spending it on the project during 2021-22. Whether it is considered to be […]
♦ Section 135 r/w Schedule VII of the Companies Act, 2013 (2013 Act) introduces the concept of Corporate Social Responsibility (CSR) as a statutory obligation of companies. Further, Companies (Corporate Social Responsibility Policy) Rules, 2014 (CSR Rules 2014) deal with the CSR norms in detail. Vide notifications and/or amendments, more activities have been added to […]
Companies Act, 2013 (“Act”) mandated for Corporate Social Responsibility and formally introduced it to the dashboard of the Boards of Indian companies. Section 135 of the Act read with Companies (CSR) Policy Rules, 2014, provided a robust framework for companies to partner in contributing to the country’s development challenges through its managerial skills, technology, and innovation.
CSR Policy & Provisions (Under the Companies Act 2013) Recent Changes & Amendments 2021 Corporate Social Responsibility (CSR) The concept of CSR rests on the ideology of ‘GIVE AND TAKE’ CSR is a concept whereby companies not only consider their profitability and growth, but also the interest of society and the environment by taking the […]
CORPORATE SOCIAL RESPONSIBILITY (CSR) – STANDARD OPERATING PROCEDURE (SOP) CSR – Corporate Social Responsibility Governing provisions: Section 135 of Companies Act, 2013 read with The Companies (Corporate Social Responsibility Policy) Rules, 2014 as amended thereto. Important definition/terms: 1. Threshold limits of the previous financial year a) Net worth =/exceeding Rs.500 Cr b) Turnover =/exceeding Rs.1,000 […]
The Central Government vide Gazette notification dated January 22, 2021 has introduced Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021. Corporate Social Responsibility (CSR) means the activities undertaken by a Company in pursuance of its statutory obligation laid down in section 135 of the Act in accordance with the provisions contained in these rules, but shall […]
1. The Ministry of Company Affairs ‘ MCA’ vide Companies (CSR Policy) Amendment Rules 2021 shifted CSR spending mandatory from the voluntary. In this article, an attempt has been made to cover all the amendments read with statutory provisions under section 135 of Companies Act, 2013. 2. EFFECTIVE DATE – [Rule 1(2)]: The Amendment Rules […]
