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 It was highlighted that outdated informati...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...
The article starts with the jurisprudence behind the law of corporate social responsibility. It then tries to confirm it with the different schools of whether it is a correlative duty or absolute duty or it is a fair law or not. It further tries to check the validity and looks into the matter of moral […]
The world is at a crisis situation. We are going through a pandemic with far reaching effects not seen by anyone living today. There are thousands of people dying all over the world and the numbers may soon reach lakhs. The effect is not only on the lives and health of the people, but also […]
The FAQ explains that commitment made towards the PM Care funds qualify as CSR, reserves given to Chief Minister’s Relief Fund doesn’t qualify as CSR. The Ministry of Corporate Affairs has given a FAQ on what qualifies as a contribution towards CSR exercises of the corporate in their battle against COVID-19. The FAQ explains that commitment made towards the PM Care finance qualifies […]
There are two major benefits which are available under the Income Tax Act, 1961 and Companies Act, 2013, in respect of the consolidated amount of donation i.e. 1. U/s 80G, 100% deduction is available to the employees and employers on the part of their contribution. 2. The amount contributed by the employers is eligible for computation of contribution under ‘Company Social Responsibility (‘CSR’) Fund.
Demystification of CSR Related Issues – Clarification On Spending Of Corporate Social Responsibility (CSR) Fund For COVID-19 Ministry of Corporate Affairs vide its general circular no. 10/2020 dated March 23, 2020 clarified that in view of the spread of Novel Corona Virus (COVID 19) in India and Government of India’s decision to treat this as […]
CSR in COVID-19- A Ready Referencer Corporate Social Responsibility (CSR) can be understood as a Company’s responsibility towards the society, the environment and the community within which it operates. There are various ways in which a Corporate fulfils its CSR obligations as mandated by law. At present, CSR is not seen merely as a charity […]
MCA vide General Circular No. 15/2020 dated 10th April 2020 has issued and published COVID-19 related FAQs on Corporate Social Responsibility (CSR). Major Update: ‘Chief Minister’s Relief Fund’ or ‘State Relief Fund for COVID-19’ is not included in Schedule VII of the Companies Act, 2013 and therefore any contribution to such funds shall not qualify […]
Article explains Recent updates Related to Compliance in pursuance of General Circular No. 11 dated 24th March,2020 & General Circular No. 12 dated 30th March,2020, Companies Fresh Start Scheme, 2020 and Revised LLP Settlement Scheme,2020, Clarification on contribution to PM Cares Fund as Eligible CSR Activity, Spending of CSR Funds For COVID-19 and Notification for […]
On 23rd March 2020, the Ministry of Corporate Affairs declared donations by the companies to Prime Minister’s emergency fund set up to fight against the Coronavirus pandemic will qualify as Corporate Social Responsibility (CSR) expenditure.
Various efforts are being made by the central and state governments to control the spread of COVID-19, commonly known as coronavirus. The task is tough and demands various measures to be taken simultaneously on war footing to control the virus from spreading and graduating from phase one to phase four. Phase four is considered to […]
