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 It was highlighted that outdated informati...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...
ROC Mumbai imposed penalties on a company and its officer for not including the Annual CSR Report in the Board Report for FY 2021-22. The ruling emphasizes strict compliance with Section 134(3)(o).
Court permits execution of a single surety bond per district for 1,343 cases, citing exceptional circumstances. This relieves a 70-year-old accused from onerous bail conditions while ensuring court appearance.
The ROC imposed penalties after finding that CSR funds meant for ongoing projects were wrongly spent and not transferred to Schedule VII funds. The key takeaway is that improper use of unspent CSR amounts triggers liability under Section 135(5).
The ITAT Mumbai set aside the PCIT’s revisionary order, holding that the AO’s decision to allow Section 80G deduction on voluntarily disallowed CSR expenses was a plausible view. The ruling reaffirmed the Supreme Court principle that Section 263 revision cannot be invoked merely for holding an alternate opinion.
ITATs confirm CSR donations to 80G-approved bodies are deductible, asserting that the bar under Section 37(1) doesn’t override Section 80G or Section 35. PCIT revisions quashed.
Comprehensive guide on mandatory CSR documents, policies, and reporting under Section 135 of the Companies Act, 2013 and CSR Rules, 2014.
The ITAT ruled that CSR expenditure, though disallowed as a business expense, qualifies for deduction under Section 80G if paid to approved entities. The Tribunal directed the AO to verify the donations and allow the 80G claim, rejecting the argument that a mandatory statutory expense cannot be a donation.
ROC Bangalore imposed a 15.5 lakh penalty on PACE DIGITEK LIMITED and its director for failing to spend and timely transfer unspent Corporate Social Responsibility (CSR) funds for FY 2020-21, violating Section 135(7).
CSR under the Companies Act, 2013 is determined on a standalone basis. Holding/subsidiary companies must independently meet financial criteria to comply.
The ITAT Jabalpur directed the CIT (Exemption) to reconsider the rejection of Mangalayatan University’s Section 80G approval. The Tribunal held that a rejection based on incomplete facts.
