Corporate Law : India's CSR law mandates companies to spend on social welfare. Explore genuine reasons for CSR shortfall and reasons that may seem...
Company Law : learn about corporate social responsibility under companies act 2013 ....
Income Tax : Explore corporate tax reforms expected in Union Budget 2025-26, including CSR deductions, TDS rationalization, MSME payment rules,...
Corporate Law : Explore the key challenges in conducting CSR impact assessments and solutions to ensure meaningful social contributions from corpo...
Company Law : Learn about CSR under the Companies Act, 2013, including its applicability, compliance, governance, spending requirements, and imp...
Company Law : Govt discusses proposed amendments to Companies Act, 2013 to enhance ease of business and CSR regulations, ensuring compliance and...
Company Law : Analysis of CSR compliance under the Companies Act, 2013. Details on CSR spending mandates, sectoral allocations, and state-wise e...
CA, CS, CMA : Practice questions on Social Impact Assessment & CSR Audit, covering impact analysis, principles, methods, and taxation aspects fo...
Company Law : Overview of CSR guidelines under the Companies Act, 2013, monitoring mechanisms, and lack of special provisions for local communit...
Company Law : Extend CSR support to Armed Forces, veterans, and war widows. Contributions are tax-exempt under Section 80G and managed transpare...
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...
Activities which are eligible for CSR expenditure in pursuance of Schedule VII of the Companies Act 2013 are as follows: 1. Eradicating hunger, poverty and malnutrition, promoting preventive health care and sanitation, including contribution to the Swach Bharat Kosh set-up by the Central Government for the promotion of sanitation and making available safe drinking water,-
Section 135 of the Companies Act, 2013 (the Act), requires the Board of Directors of every company having a net worth of Rupees 500 crore or more, or turnover of Rupees 1,000 crore or more or a net profit of Rupees 5 crore or more, during any financial year, to ensure that the company spends in every financial year atleast 2% of the average net profits of the company made during the three immediately preceding financial years on Corporate Social Responsibility (CSR) in pursuance of its policy in this regard.
Akash Sharma ♠ Companies Mandated to constitute a CSR Committee Networth of Rs 500 Crore or more Turnover of Rs 1000 Crore or more Net profit of Rs 5 Crore or more ♠ CSR Committee to have Three or more directors At least one is to be an independent director ♠ Board’s Report shall disclose […]
Frequently Asked Questions On the provisions of Corporate Social Responsibility under Section 135 of the Companies Act 2013 and Rules thereon The background of these Frequently Asked Questions (FAQs) is to give clarifications regarding treatment of Corporate Social Responsibility (CSR) spending in the books of accounts and disclosures in the Financial Statements. It is important […]
The Companies Act 2013 makes it mandatory for corporate houses to spend 2% profit on CSR activities. The government has prepared a list of sanitized Non-Governmental Organisations (NGOs), free of any terrorist links or unwanted funding, that can undertake Corporate Social Responsibility (CSR) activities.
It is proposed to provide that donations made by any donor to the Swachh Bharat Kosh and donations made by domestic donors to Clean Ganga Fund will be eligible for a deduction of hundred per cent from the total income. However, any sum spent in pursuance of Corporate Social Responsibility under sub-section (5) of section 135 of the Companies Act, 2013, will not be eligible for deduction from the total income of the donor.
Ever since the inception of concept of Mandatory CSR spending corporates are anxious about tax incentive of CSR spending. Last year, the enactment of the finance act 2014 which kept the CSR expenditure out of ambit of business expenditure proves disappointment for companies. The reason given is, CSR expenditure, being an application of income, is not incurred exclusively for the purposes of carrying on business.
Swami Vivekananda blessed by Sri Ramkrishnadeva worked tirelessly for the upliftment of mankind ultimately for his motherland. He was a patriot and all his actions were towards the direction. He always thought for the untouchables and down trodden.
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.
