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 It was highlighted that outdated informati...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...
1. Brief Background a) The Company law in India mandates certain category of companies to carry out Corporate Social Responsibility (CSR) activities mandatorily. Section 135 of the Companies Act, 2013 enlists the companies which are mandatorily required to comply with the CSR requirements, which are: i. Net worth of Rs. 500 crore or more, ii. […]
Ministry of Corporate Affairs (MCA) has amended the CSR provisions by notifying the following w.e.f. 22.01.2021: a. The Companies [Corporate Social Responsibility (CSR) Policy] Amendment Rules, 2021. b. Section 27 of the Companies (Amendment) Act, 2020. c. Section 21 of the Companies (Amendment) Act, 2019. Key highlights of these amendments are as follows: ♦ Exemption […]
Summary of Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021 ♣ On 22.01.2021, the Ministry of Corporate Affairs notified the Companies (Corporate Social Responsibility policy) Amendment Rules, 2021 ♣ These amendments have introduced some significant changes to provide framework for implementation of new provisions of the Companies (Amendment) Act 2019 and Companies (Amendment) Act 2020. […]
Critique of Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021 On 22nd January, 2021 MCA notified Companies (Companies Social Responsibility Policy) Amendment Rules, 2021. Tabular presentation of Amended CSR Rules Rule No. Old Rule New Rule Impact Rule 4 CSR activity CSR implementation Substituted Rule 5 Sub rule 2 CSR committee CSR Committee Only Sub […]
MCA has introduced Companies (Corporate Social Responsibility Policy), Amendment Rules, 2021. And importantly CSR Spending made mandatory from voluntary w.e.f. financial year 2020-21. Date of Effectiveness of Companies (Corporate Social Responsibility Policy), Amendment Rules, 2021: [1] Companies (Corporate Social Responsibility Policy), Amendment Rules, 2021 came into effect on 22 January 2021, as the same has been […]
MCA has come up with major amendments in the Companies (CSR) Rules, 2014 through enforcement of Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021 on 22nd January, 2021.
As we all now, there are lakhs of NGO which are working in India for the welfare of Society. During COVID Pandemic also NGO’s has played a vital role in taking care of poor people and providing them food and shelter during lock down period. Few years back the Government of India has launched NGO […]
Summary of Changes in CSR Rules vide Companies (CSR Policy) Amendment Rules, 2021 Notified vide Notification No. G.S.R. 40(E) Dated-22/01/2021 – 1. Definition of Administrative Overhead included in the Rules. ‘Administrative overheads” means the expenses incurred by the company for general management and administration’ of Corporate Social Responsibility functions in the company but shall not […]
MCA has introduced Companies (Corporate Social Responsibility Policy), Amendment Rules, 2021. And importantly CSR Spending made mandatory from voluntary w.e.f. financial year 2020-21. Date of Effectiveness of Companies (Corporate Social Responsibility Policy), Amendment Rules, 2021: [1] Companies (Corporate Social Responsibility Policy), Amendment Rules, 2021 came into effect on 22 January 2021, as the same has […]
RECENT CHANGES IN COMPANIES ACT, 2013 VIDE COMPANIES (AMENDMENT) ACTS, 2019 AND COMPANIES (AMENDMENT) ACTS, 2020 Sl No. Section Name Before Amendment After Amendment Effective Date Remarks 1. 2(52) (Definition of listed company) Listed company means a company which has any of its securities listed on any recognised stock exchange New proviso has been added […]
