Csr obligation under companies act, 2013

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 January 2014 Dear Sir,

I have few queries regarding Corporate Social Responsibilty (CSR) rules.

1. From which financial year a company which comes under CSR applicabilty has to spend atleast 2% of average net profits of last three financial year? From F.Y.2013-14 or from F.Y.2014-15.? (CSR reporting will be applicable for From F.Y.2014-15.)

2. Whether a company has to spend 2% of average net profit for each three years?? i.e. for f.y.2011-12, f.y.2012-13 & f.y.2013-14? or for only F.Y.2013-14.?

3. Listed or other prescribed companies can not appoint an audit firm for more than two terms of five consecutive years. in that case, Where a Statutory auditor is a firm, period of appointment will be counted from F.Y.2013-14 or from previous years??

4. Are there any institution or trusts prescribed for spending 2% of average net profits??.

I will be very grateful to you for providing some guidelines and clarity on above subjects. or provide reference to clear my doubts.

waiting.....:)

Guest

Guest (Expert)

06 January 2014 Please Refer..
http://www.cuts-international.org/pdf/Draft-CSR_Rules_2013.pdf

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

06 January 2014 Thanks Rachit.....

But i still cannot make conclusions for my queries. can you please elaborate? Reporting f.y. is 2014-15. so do a company require to spend 2% from f.y.2013-14 itself??

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Guest

Guest (Expert)

06 January 2014 Friend it is expected to be implemented from 2014-2015..It is confirmed not from 2013-14.

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

07 January 2014 thank you rachit for ur help. it enhanced my knowledge & i appreciate it.. thanks again.