Regarding CSR
Shiva Kumar K (93 Points)
25 January 2021Shiva Kumar K (93 Points)
25 January 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 25 January 2021
Shiva Kumar K
(93 Points)
Replied 25 January 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 25 January 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 25 January 2021
CA Ruchika (AIR 7)
(Co-Founder Koncept Education The BEST Online CA Classes! Visit www.konceptca.com)
(83 Points)
Replied 04 February 2021
CSR stands for Corporate Social Responsibility. As per section 135 of Companies Act, 2013 mandatorily requires specified percentage of their profits on specified areas of social fulfillment in discharge of their social responsibility.
Which companies are required to constitute CSR Committee?
Every Company having:
During immediately preceding financial year shall constitute a Corporate Social Responsibility committee.
Every company including its holding or subsidiary, and a foreign company having its brach office or project office in India, which fulfils the criteria of Section 135 of the Companies Act, 2013. Provided that Net Profit, Net Worth or Turnover of a foreign company shall be computed in accordance with Balance sheet and profit and loss account of such company prepared in accordance with the prescribed section.
Composition of CSR committee:
Company have to contribute at least two percent of the average net profits of the company made during the three immediately preceding financial year.
Amount of CSR committee shall not be considered as CSR Activities if contributed towards:
List of some of the CSR Activities:
If a company fails to contribute towards CSR activities then:
Aditi Gupta
(Management Trainee)
(80 Points)
Replied 08 February 2021
Hi,
The profits for last 3 years will be calculated as per Section 198.
Section 198 provides for various adjustments to be made to the profits and here Profit to be taken is Profit before Tax figure appearing in P & L account
Aditi Gupta
(Management Trainee)
(80 Points)
Replied 08 February 2021
Hi,
The profits for last 3 years will be calculated as per Section 198.
Section 198 provides for various adjustments to be made to the profits and here Profit to be taken is Profit before Tax figure appearing in P & L account
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961