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Company Law : learn about corporate social responsibility under companies act 2013 ....
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Income Tax : ITAT Delhi held that the expenditure incurred on CSR activities may not have direct nexus with the activities of the assessee but ...
Income Tax : ITAT Ahmedabad held that provisions of section 68 of the Income Tax Act doesn’t apply in the matter of non-utilisation of amount...
Income Tax : ITAT Delhi resolves Cheil India Pvt. Ltd.'s appeal on CSR expense disallowance under Section 80G. Tribunal observed that CSR expen...
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...
Company Law : Regional Director modifies CSR penalty for Clairvoyant India, waiving fines for directors, and reducing company penalty due to pro...
Company Law : Last date of filing Form CSR-2 separately on or before 31st December, 2024, (after filing Form No. AOC-4 or Form No. AOC-4-NBFC (I...
Company Law : Ingeteam India Pvt Ltd faces penalty for failing to comply with CSR obligations under Section 135 of the Companies Act, 2013....
Company Law : MCA amends Companies (Accounts) Rules, 2014. CSR-2 form filing for FY 2023-24 extended to December 31, 2024. Learn more about this...
Company Law : Registrar of Companies Coimbatore issues penalty order under Section 454 for CSR non-compliance by Adisankara Spinning Mills Pvt L...
Section 135 of the Companies Act, 2013, Schedule VII of the Act and Companies CSR Policy Rules, 2014 read with General Circular No. 21/2014, Dated: 18th June, 2014 issued by the Ministry of Corporate Affairs, provide the broad contour within which eligible Companies are required to formulate their CSR policies including activities to be undertaken and implement the same in the right earnest.
Section 135 of the Companies Act, 2013, Schedule VII of the Act and Companies CSR Policy Rules, 2014 read with General Circular dated 18.06.2014 issued by the Ministry of Corporate Affairs, provide the broad contour within which eligible Companies are required to formulate their CSR policies including activities to be undertaken and implement the same in the right earnest.
The necessity of Corporate social responsibility is undisputed, though the mandating of CSR under the Companies Act, 2013 is. The government has prescribed a set of CSR activities which aims at the establishment of an equitable society. That the disallowance of tax deductions under Section 37(1) and allowance of tax deductions under Sections 30 to […]
REPORT OF THE HIGH LEVEL COMMITTEE (to suggest measures for improved monitoring of the implementation of Corporate Social Responsibility policies) Content of the Report- Chapters 1- Introduction Chapters 2 – Discussion on Terms of Reference Chapters 3- Issues Relating to CSR provisions of the Act Chapters 4- Summary of Recommendations Annexure-I- Section 135 of the […]
As per The Companies (CSR policy) Rules, 2014 ‘Corporate Social Responsibility (CSR)’ means and includes but is not limited to: 1) Projects or programs relating to activities specified in Schedule VII to the Act or 2) Projects or programs relating to activities undertaken by the Board in pursuance of recommendations of the CSR Committee as per declared CSR policy subject to the condition that such policy covers subjects enumerated in Schedule VII of the Act.
While concluding my previous article on CSR – Interplay between Companies Act, 2013 and Income Tax Act, 1961, I have mentioned that the CSR policy should be formulated by the CSR Committee in such a manner as to require CSR expenditure to be incurred on such activities as laid down in Schedule VII that are also eligible for deduction under sections 30 to 36 of the IT Act
Corporate Social Responsibility or CSR is a known name in the new ERA of corporate culture where now-a-days every company is trying to get a name in the list of socially responsible entities. Every penny spend on towards CSR activities plays an important role from the angle of Companies Act, 2013 as well as Income Tax Act, 1961.
According to the UNIDO3, Corporate social responsibility is a management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders. CSR is generally understood as being the way through which a company achieves a balance of economic, environmental and social imperatives (Triple-Bottom-Line Approach)
Even after six decades of Independence, India is still an under-developed country. Still problems like hunger, poverty, illiteracy, ill-health and malnutrition are prevalent in the society. There is need to look after the socio economic problems prevailing in the society not only by the individuals and Non Governmental Organization
You would be glad to know that that the long awaited Notification to exempt private companies under section 462 of the Companies Act 2013 has been recently issued by the Ministry of Corporate Affairs. ICAI has highlighted need for a clarification in this regard on various occasions. There was no apparent need to put a cap on the number of audit of small and medium companies.
