The Companies Act, 2013 has made CSR spending mandatory for a certain size of companies- these companies from the ongoing financial year will have to spend at least two percent of their three year average net profits on CSR. This paper studies Corporate Social Responsibility expenditure of the ...
as may be considered appropriate. The Board can delegate to the CSR Committee, the approval of the CSR Projects, within the broad parameters and ceiling limits for CSR expenditure as laid down by the Board from time to time.
8.2Recommending the amount of expenditure for the CSR activities. 8.3Monitoring CSR activities time to time. 9.CSR through registered trust, society otherwise The Board of Directors of the company may decide to undertake CSR activities approved by CSR committee through a registered trust, registered ...
The historical background of the Indian Companies Act of 1956 takes back over a century when Companies Act of 1850 Modeled upon British Companies Act of 1844 was promulgated in India. Between 1850 and 1882, the act w
Section 37 (1) of the Income Tax Act, 1961 explicitly provides that any expenditure incurred by an assessee towards CSR in terms of section 135 of the Companies Act, 2013, the same shall not be treated as a business expenditure – as such, would not be allowed. ...
India's S-135 is the first regulation in the world that not only prescribes but also mandates firms a minimum expenditure on CSR activities. As per the directive of the Indian Ministry of Corporate Affairs, only certain activities are eligible under the ‘CSR activity’ of clause S-135 for...
If MSTI spends an amount in excess of requirement provided under the Act, such excess amount can be set off against the required two percent CSR expenditure up to the immediate succeeding three financial years, or in accordance with the Act. In the long run, MSTI will build capacities in ...
Continuously promoting grassroots activities in local communities and thrive together as a member of SocietyPromote quality education Training participation rate (non-consolidated)100%92.3%100% Promote social contribution activities Expenditure/number of participants-¥910 million/ 28,500 persons- ...
The Committee, after approval, shall submit the regular report giving status of the CSR Activities undertaken, Expenditure Incurred and such other details as may be required the Board. Role of the Committee The Committee shall carry out of the following functions: ...
Stricter CSR Laws as per revised Companies Act Deep analysis of Sec 194N - TDS on cash withdrawal exceeding 1 crore Duty Free Shops & its Refund Procedure in GST- Saga Continues!! Statutory Compliances for Companies and Consequences of Non Compliance...