CSR Applicability based on 20-21 profit
This query is : Resolved
02 September 2021
Company is having PBT more than Rs 5 cr up to FY 19-20. But during 20-21 company's PBT is less than-
Rs 5cr.
Company is not qualifying for CSR under other criteria of net worth and Turn over.
Is it company have qualify for CSR applicability based on 20-21 PBT ?
Rs 5cr.
Company is not qualifying for CSR under other criteria of net worth and Turn over.
Is it company have qualify for CSR applicability based on 20-21 PBT ?
02 September 2021
20-21 profit is less than 5 crore CSR not applicable for 21-22.
Message likes :
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02 September 2021
Thanks sir..........
02 September 2021
Dear Sir,
Any provision in companies act, once CSR provision applicable to any company they have to continue for 3 years irrespective turnover falls below Rs 5cr during any FY?
Any provision in companies act, once CSR provision applicable to any company they have to continue for 3 years irrespective turnover falls below Rs 5cr during any FY?
02 September 2021
Companies are expected to spend 2% of the average profit of the last 3 years – hence, even for two consecutive years if the company has been in loss, but on an average, the company has been in profit since the last 3 years, then the company would be required to spend 2% of the average profit on the stipulated CSR ...
02 September 2021
Thanks... request for small confirmation also for better clarity.
PBT
17-18 - Rs 3.5 Cr
18-19 - Rs 7 Cr
19-20 - Rs 23 lakhs
Avg for three years is Rs 3.57 cr. For FY 20-21 CSR is applicable based on this average and profitability of 19-20 alone?
PBT
17-18 - Rs 3.5 Cr
18-19 - Rs 7 Cr
19-20 - Rs 23 lakhs
Avg for three years is Rs 3.57 cr. For FY 20-21 CSR is applicable based on this average and profitability of 19-20 alone?
02 September 2021
For FY 20-21 CSR is applicable based on the average.
02 September 2021
Thanks sir...............
06 September 2021
As per given information, CSR will not applicable on 2021-22.
06 September 2021
Rules and sections has been changed so look at that also.
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