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...
FAQs on the provisions of Corporate Social Responsibility under Section 135 of the Companies Act 2013 and Rules thereon The ICAI hosted on its website exposure draft of Frequently Asked Questions(FAQs) on the provisions of Corporate Social Responsibility (CSR) under Section 135 of the Companies Act 2013 and Rules thereon.
In simple words, Corporate Social Responsibility (CSR) is the responsibility of company towards society. CSR is attracting attention day by day. Like ‘Swachh Bharat Abhiyaan’ campaign started by our Prime Minister Narendra Modi, is the responsibility of each and every citizen of India, similarly Corporate Houses are also responsible for addressing the needs and desires of society in which they exist with intent to development of the nation.
Section 135 of the Companies Act, 2013 mandates every company above the given threshold levels to comply with Corporate Social Responsibility (CSR) provisions of the Act, and to disclose contents of its CSR policy in its Board’s Report. The penalty provision for non-compliance in this regard is prescribed under Section 134 (8) of the Act.
Sk. Md. Asif Ali CONCISE NOTE ON CSR Eligibility Every company (Private or Public) having Networth of Rs. 500 Crore or more or Turnover of Rs. 1000 Crore or more or 3. Net profit of Rs. 5 Crore or more in any of the 3 preceding financial years. (Circular 18 June by MCA)
With CSR to be a compulsory compliance for a prescribed set of companies, India has become the first country in the whole world to make it mandatory for the corporate. CSR should not be taken as an obligation but a social responsibility which should be fulfilled strategically, systematically and thoughtfully.
CS Nisha Sharma S.No. Committee/Mechanism to be adopted Applicability Constitution Section and Rules applicable 1. Audit Committee 1. Public Companies having: Paid up share capital>= 10 cr. Turnover>= 100Cr. Aggregate outstanding loans /borrowings/debentures/deposits> =50cr 2. Listed Companies. 1. Minimum 3 directors (Independent directors with majority) Section 177 read with Rule 6 of Companies (Meeting of […]
The totality of CSR can be best understood by three words: ‘corporate’, ‘social’ and ‘responsibility’ in broad terms, CSR relates to responsibilities corporations have towards society within which they are based and within which they operate, not denying the fact that the purview of CSR goes much beyond this.
(i) In item (i), after the words and sanitation, the words including contribution to the Swach Bharat Kosh set-up by the Central Government for the promotion of sanitation shall be inserted; (ii) In item (iv), after the words and water, the words including contribution to the Clean Ganga Fund set-up by the Central Government for rejuvenation of river Ganga; shall be inserted.
The Government of India enacted the Companies Act 2013 in August 2013. Section 135 of the Companies Act 2013 (hereinafter referred to as ‘the Act) deals with the subject of Corporate Social Responsibility (CSR). It lays down the qualifying criteria based on net worth, turnover, and net profit for companies which are required to undertake CSR activities
CA Divyang Gupta Article discusses Corporate Social Responsibility Applicability/ CSR Applicability, Mandatory Expenditure on CSR, Medium of Expenditure on CSR Activity , Activities for CSR Expenditure, Responsibility of Board of Directors related CSR Applicability, Clarification/Other provision w.r.t to expenditure on CSR and Income Tax Deductibility for CSR Expenses. Corporate Social Responsibility With the enactment of […]
