how to determine net profit for csr applicability
ARAVIND PILLARI (5 Points)
28 October 2018ARAVIND PILLARI (5 Points)
28 October 2018There are 2 places where "Net profit" is mentioned; dont get mixed up
First is the applicability..there are 3 limits...NW, Netprofit and turnover..the netprofit talked about here in applicability is the netprofit as per ur last financial statements...no relation to section 198
Then when u come under CSR bracket; u have to make contribution of 2% of Netprofit (before tax) as per section198
Now there is an article by EY which has a very comprehensive list of things u include and exclude for calculating NP as per 198...search it online or send me ur email
N. K. Aggarwal
(Company Secretary)
(72 Points)
Replied 01 November 2018
Better to consider PBT for past three years.
Master GSTR-9 and 9C with India's First Unique Live Course with Live practical training
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(without recording)