Computation of csr u/s 135
WebCorporate Social Responsibility 17 Clarifications by MCA • For deciding applicability of CSR provisions under section 135(1), networth of ` 500 crore, turnover of ` 1000 crore or net … WebSep 18, 2024 · For the fiscal year 2014-15, in terms of section 135 of CA 2013, the taxpayer incurred INR 47.2mn towards CSR. Out of this, the taxpayer treated INR 22.52mn as qualified for deduction and thereby claimed INR 11.26 as deduction under section 80G of the IT Act. However, the Tax officer denied taxpayer’s claim under section 80G of the IT …
Computation of csr u/s 135
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WebApr 11, 2024 · Calculation of profits Effective from 01-04-2014 1) In computing the net profits of a company in any financial year for the purpose of section 197,— ( a) credit shall be given for the sums specified in sub-section ( 2 ), and credit shall not be given for those specified in sub-section ( 3 ); and WebSep 4, 2016 · BACKGROUND: Presently Corporate Social Responsibility (CSR) expenditure is at the discretion of the corporate however after enactment of Section 135 of Companies Act 2013 such expenditure is made mandatory for …
WebApr 11, 2024 · Terrorism perpetrated in any country by either internal or external actors jeopardizes the country’s security, economic growth, societal peace, and harmony. Hence, accurate modelling of terrorism has become a necessary component of the national security mission of most nations. This research extracted and analyzed high impact attacks … WebApr 24, 2024 · ♦ As per Section 135 (1) every Company falling under bellow criteria in Previous Financial Year need to constitute CSR Committee: Constitution Minimum 3 (Three) Directors out of which 1 (One) shall be Independent; However, when Company is not mandate to appoint Independent Director constitution shall be minimum 2 (Two)
WebThe HLC-2024 identified specific issues arising out of the provisions of section 135 of the Act and rules made thereunder, Schedule VII to the Act and associated operational challenges. The HLC-2024 submitted its report on 7thAugust, 2024. A summary of the recommendations made by HLC-2024 is placed at Annexure-I. The provisions of CSR applies to: 1. Every company 2. Its holding company 3. Its subsidiary company 4. Foreign company Having in the preceding financial year: 1. Net worth > 500 crore 2. Turnover > 1000 crore 3. Net profit > 5 crore See more CSR is an immense term that is used to explain the efforts of a company in order to improve society in any other way. Below reasons reflect why CSR is important: 1. CSR improves the public image by publicizing the efforts … See more Every company which needs to comply with the CSR provisions have to spend 2% of the average net profits made during the preceding 3 years as … See more The role of the Board of Directors is as follows: 1. After considering the recommendations made by the CSR Committee, approve the CSR policy for the Company. 2. The Board must ensure only those activities … See more The specified funds for transfer of unspent amount are: 1. A contribution made to the prime minister’s national relief fund. 2. Any other fund is initiated by the central government … See more
Web2013 (“the Act”), Corporate Social Responsibility (CSR) became a norm in India. CSR provision enshrined under the Act, being a unique provision of law, listed India amongst …
Web135(5) – does it mean net profit before tax or net profit after tax? [corresponding to FAQ No. 4] MCA has clarified that computation of net profits for section 135 is as per section 198 … handset that plugs into cell phoneWebFAQs on CSR by Corporate Laws & Corporate Governance Committee ICAI Index S. No. Particulars Page No 1. Frequently Asked Questions (FAQs) on the provisions of … business credit card no interestWebMay 28, 2024 · Net Profit Calculation U/s.198 of Companies Act,2013 for CSR Expenses: Net Profit After Tax of Any FY Add: Expenses Disallowed: 1. Income Tax 2. Managerial Remuneration 3. Compensations,... business credit card purchases