CSR Expenditure of Company fulfiled through Trust
This query is : Resolved
22 September 2021
Can a Trust created by company for CSR Funding, donate to another trust for compliance of Company's CSR Liability
We are a manufacturer of batteries, we have created a public trust for CSR Compliances through Trust and for this we have donated Rs. 1 Crores to compnay trust, but till date no activities done.
Now we are planning that, company's trust should donate the same 1 crores to another trust for CSR compliance
Kindly guide the feasibility along with rules and laws
We are a manufacturer of batteries, we have created a public trust for CSR Compliances through Trust and for this we have donated Rs. 1 Crores to compnay trust, but till date no activities done.
Now we are planning that, company's trust should donate the same 1 crores to another trust for CSR compliance
Kindly guide the feasibility along with rules and laws
23 September 2021
Yes, such donation allowed for CSR compliance.
23 September 2021
Dear Sir,
Can you please share laws or rules regarding same, as per our auditor amount given to second trust will not be allowable as application of CSR fund and even if amount given to company trust, then trust will have to utilise the funds within the FY,
kindly help
Can you please share laws or rules regarding same, as per our auditor amount given to second trust will not be allowable as application of CSR fund and even if amount given to company trust, then trust will have to utilise the funds within the FY,
kindly help
23 September 2021
See the link.
https://taxguru.in/company-law/trusts-eligible-receive-csr.html
https://taxguru.in/company-law/trusts-eligible-receive-csr.html
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