Csr

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Querist : Anonymous

Querist : Anonymous (Querist)

18 December 2015 Dear Experts,
What is CSR and it's applicability.... plzz clarify.

Thanx in Advance

CA RAKESH KUMAR THAKUR

CA RAKESH KUMAR THAKUR (Expert)
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18 December 2015 you can refer sec. 135 of companies act 2013. and Schedule VII

Every company having net worth of rupees five hundred crore or more, or
turnover of rupees one thousand crore or more or a net profit of rupees five crore or more
during any financial year shall constitute a Corporate Social Responsibility Committee of the
Board consisting of three or more directors, out of which at least one director shall be an
independent director.

The Board of every company referred to in sub-section (1), shall ensure that the
company spends, in every financial year, at least two per cent. of the average net profits of
the company made during the three immediately preceding financial years, in pursuance of
its Corporate Social Responsibility Policy:
Provided that the company shall give preference to the local area and areas around it
where it operates, for spending the amount earmarked for Corporate Social Responsibility
activities: