BHAVINI SHAH (Company Secretary) (193 Points)
14 May 2014A private limited company incurred loss in f.y. ending 2014. but had profits in earlier 2 years.
whether CSR provisions, will apply to such a company? the requirement of net profit of 5 crores applies for which financial year? 2014 or 2015?
Rahul Chilal
(CA, CS, DISA)
(713 Points)
Replied 14 May 2014
Corporate Social Responsibility rules are applicable from 01/04/2014. Hence profit for past 3 years will be considered.
Vandana J Doshi
(Practising Company Secretary)
(12562 Points)
Replied 15 May 2014
Agree with Rahul....if in either of the previous three years, the Company falls into the criteria of CSr, it has to comply with the same....
Avneesh Mishra
(CS Trainee)
(502 Points)
Replied 15 May 2014
Completely Agree with Vandana Ma'am and Mr. Chilal. FY Ending 2014 will be considered.
CAclubindia
