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Csr activities

Kavitha.S (Company Secretary) (369 Points)

31 March 2015

Friends,

Can we include contributions made to cycling association and all india chess assoication in CSR activities?

Regards

Kavitha

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5 Replies

Vivek Venkataram (Just cleared CS(441/800) now C.A Final A) (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 Graph) (85935 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 A) (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.