Corporate social responsibility

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

19 June 2015
Whether amount donated in NGOs or trust can be treated as csr spend ????????

if yes whether NGOs can invest such amount into entities generating electricity through solar energy.

Dharmendra gupta

Dharmendra gupta (Expert)
Follow

20 June 2015 he Ministry of Corporate Affairs has vide General Circular No. 21/2014 dated June 18, 2014 has clarified that Contribution to Corpus of a Trust/ Society/ Section 8 companies etc. will qualify as CSR expenditure as long as

(a) the Trust/ Society/ Section 8 company etc. is created exclusively for undertaking CSR activities or

(b) where the corpus is created exclusively for a purpose directly relatable to a subject covered in Schedule VII of the Act.

Message likes : 1 times

Dharmendra gupta

Dharmendra gupta (Expert)
Follow

20 June 2015 Yes. Contribution by the Company to such trusts, NGOs etc also qualify for CSR spend if it meets the track record and other criteria as per Rule 4(2) of Companies (Corporate Social Responsibility Policy)