CSR expenditure.
Malathi.S (Trichy) (65 Points)
03 September 2021
Hi, whether donation of laptop to Police department can be construed as CSR expenditure? Thank you.
11 Replies
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 03 September 2021
As I understand, such contributions are not covered under schedule VII of Companies Act 2013. So not a CSR expenditure.
Seema Gupta
(auditor)
(283 Points)
Replied 04 September 2021
These activities are allowed as CSR Expenditure
- Eradicating extreme hunger and poverty
- Promotion of education
- Promoting gender equality and empowering women
- Reducing child mortality
- Improving maternal health
- Combating human immunodeficiency virus, acquired, immune deficiency syndrome, malaria and other diseases
- Ensuring environmental sustainability,
- Employment enhancing vocational skills, social business projects
- Contribution to the Prime Minister’s National Relief Fund or any other fund set up by the Central Government or the State Governments for socio-economic development, and
- Relief and funds for the welfare of the Scheduled Castes, the Scheduled Tribes, other backward classes, minorities and women and such other matters as may be prescribed.
to donate laptop is not under any social projects so you can't take it as CSR Expenditure.
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 05 September 2021
No it should not be treated as CSR activities
CS Divesh Goyal
(Practicing Compnay Secretary)
(50640 Points)
Replied 06 September 2021
such contributions are not covered under schedule VII of Companies Act 2013. So not a CSR expenditure.
CS Divesh Goyal
(Practicing Compnay Secretary)
(50640 Points)
Replied 06 September 2021
Always Check Schedule VII for CSr Expenditure.
CS Anisha Pandey
(Company Secretary )
(34 Points)
Replied 06 September 2021
Company is spending in multi year project but company has not transferred the upspent csr amount to separate bank account within 30 days of the end of the financial year ?
what can be done now?
any solution apart from transfering to specified fund ?
what can be done now?
any solution apart from transfering to specified fund ?
CS Divesh Goyal
(Practicing Compnay Secretary)
(50640 Points)
Replied 06 September 2021
You can transfer to specified Bank account. But this shall be consider as non compliance of law.
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