A Company is considering CSR activities as per the mandatory requirement of Sec.135. For that it want to incorporate a charitable trust in which the trustees will be the directors of the company who will carry on the activities for society in the form of providing awareness in rural areas about education, free health check up camps, giving money for the education of unprivileged children etc. the company will donate 2% of its average profit into this Trust. want to know is it valid compliance as per CA, 2013. In my personal view as per the CSR rules, it can be a duly compliance of law. Further, I also want to know what should be kept in mind while incorporating a Trust. Pls suggest your valuable thoughts.
07 May 2015
yes you can do that.. as we are also doing the same things in our company... we are having a trust all our csr activities are done through that trust only
07 May 2015
you can build shelters for shelterless people so that they can be saved from hit and run accidents like in salman case that landed him in 5 year RI now after 13 years...problem is poor need to be sheltered thanks to misunderstanding of governments governance means they need to see all shelterless is provided a roof while sleeping in nights or otherwise, see in US hoe shelters are provided for shelterless by local governments. in india, i doubt,whether governments would do as your CSR activities in this sector would be a laudable sir.
15 May 2015
Note that trust must be registered trust
“Registered Trust” means either Registered with Registrar of Trust in the State or Where no Registrar of Trust in the State, Registered with IT Authority.
CAclubindia
