Csr payments

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 February 2015 Dear Experts,

Since CSR is applicable from F.Y.2014-15 onwards it will be compulsory for the companies to contribute for the same.

I have some query in this regard and for the i m requesting for your guidance.

1) Whether CSR will be applicable to a company who has crossed net profit in last year only? e.g. net profit for F.Y.2011-12 - Rs.4.00 crore, for 2012-13 - Rs. 4.70 crore, & for 2013-14 - Rs. 5.60 crore.

2) Is it compulsory TO PAY CSR or only PROVISION is enough? Can we pay it in next financial year?

3) What are the notified institution where we can pay our contribution towards CSR?

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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25 February 2015 1. Yes.
Companies meeting any of the criteria prescribed u/s 135 of the Companies Act, 2013 during any financial year are covered under mandatory CSR spends.

2.Company has to spend the amount on CSR activities as required by Section 135 during the FY 2014-15 and reporting of the same would be in 2015 Board's Report or otherwise state the justification for the same in Board Report.

Querist : Anonymous

Querist : Anonymous (Querist)

25 February 2015 Thank You Mr. Mitesh

can you please suggest some of charitable institutions for donation?

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Asha Kanta Sharma

Asha Kanta Sharma

(Expert)
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20 July 2024 Certainly! When companies engage in Corporate Social Responsibility (CSR) activities, they often support charitable institutions that align with their CSR goals and objectives. Here are some types of charitable institutions and examples that companies commonly support:

### Types of Charitable Institutions:

1. **Education and Skill Development**:
- **Teach For India**: Focuses on education for underprivileged children.
- **Akshaya Patra Foundation**: Provides mid-day meals to school children to encourage education.

2. **Healthcare and Medical Services**:
- **CARE India**: Works on maternal and child health, nutrition, and sanitation.
- **SOS Children's Villages**: Provides healthcare and education to orphaned and abandoned children.

3. **Environment Conservation**:
- **WWF India**: Focuses on wildlife conservation and environmental sustainability.
- **Greenpeace India**: Works on environmental issues and climate change advocacy.

4. **Women Empowerment and Social Welfare**:
- **SEWA (Self Employed Women's Association)**: Supports women's empowerment through self-employment.
- **Pratham**: Works towards improving the quality of education and literacy among underprivileged children and youth.

5. **Rural Development and Livelihood Enhancement**:
- **Rural Development Trust (RDT)**: Works on rural development, healthcare, and education in rural India.
- **Gram Vikas**: Focuses on rural development through sustainable and participatory approaches.

### How to Choose a Charitable Institution:

- **Alignment with CSR Objectives**: Select institutions that align with your company's CSR policy and objectives.

- **Impact and Reach**: Consider the impact of the institution's work and its reach within the community.

- **Transparency and Accountability**: Ensure that the institution operates transparently and has mechanisms for accountability in how funds are used.

- **Local Community Engagement**: Preference may be given to institutions that engage with local communities and have a sustainable development approach.

### Legal Compliance:

- **CSR Committee Approval**: Ensure that the chosen charitable institution is approved by the CSR Committee of your company.

- **Documentation and Reporting**: Maintain proper documentation of donations made and report them appropriately in your company's CSR report.

By supporting reputable charitable institutions, companies can make a meaningful impact on society while fulfilling their CSR obligations. It's also advisable to consult with CSR experts or legal advisors to ensure compliance with CSR regulations and maximize the positive impact of CSR initiatives.