A pvt ltd company(XYZ) is forming a trust in order to strengthen the CSR process-Suppose trust got donations from XYZ which would be CSR from point of view of Company law. And then the Trust executed the project using XYZ resources/manpower, would XYZ be able to recover costs and margins from the Trust ? How legit is that from CSR point of view?
3 Replies
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 17 May 2016
First of all for CSR, there should be 3 year track record of Trust for executing the activities which are specified in Schedule VII. Further, there is no point of the margin, the CSR expenditure should be spend in full in the CSR Activity.
arushi
(a)
(47 Points)
Replied 17 May 2016
If it is a company established trust- you don't require a track record of three years.
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 17 May 2016
Yes..... rightly mentioned...
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