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Company Law : learn about corporate social responsibility under companies act 2013 ....
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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...
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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...
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 […]
CS Vasudev Savalgi Background At the outset, CSR activities at …………….(insert company name) is already in existence for the benefit of the employees and their immediate family members in the areas of extending loan to employees, participation at festivals and best worker award etc.
The concept of Corporate Social Responsibility has been introduced by Companies Act, 2013. Section 135 of the Companies Act, 2013 deals with provisions related to Corporate Social Responsibility. Ministry of Corporate Affairs (MCA) has, vide its notification dated February 27, 2014 notify the provisions of Corporate Social Responsibility to be applicable w.e.f. April 01, 2014.
