Friends,
Can we include contributions made to cycling association and all india chess assoication in CSR activities?
Regards
Kavitha
5 Replies
Vivek Venkataram
(Just cleared CS(441/800) now C.A Final Attempt in May 2015)
(772 Points)
Replied 31 March 2015
Yes i am aware of ONGC AND RELIANCE giving sponsorships and monetary aid to chess clubs and other sporting organisations and claiming as CSR.
According to the clause also this money will be used in the upbringing of the above sports in society thus it should be eligible for CSR.
hope this helps
CS,CA F,Numrologi TusharSampat
(CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)
(85930 Points)
Replied 31 March 2015
For that you need to see only those activities covered in Schedule VII to co act 2013 are allowed for same.
Vivek Venkataram
(Just cleared CS(441/800) now C.A Final Attempt in May 2015)
(772 Points)
Replied 31 March 2015
Yes it is clearly mentioned in Schedule vii in point number vii.
Rural sports, nationally recognised sports , paralympic sports and olympics sports.
Cycling and chess are covered in my opinion.
vimal
(delhi)
(22 Points)
Replied 01 April 2015
All the company whose turnover is 1000cr or more is required to spend 2%of net profit immedietly of preceding last 3 year on CSR activity
vimal
(delhi)
(22 Points)
Replied 01 April 2015
Yes you can but it should be affect to the companys employee indirectly
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