applicability of csr provisions
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 January 2017
Dear Sir,
Our Company is not having any sales turnover from F.Y. 13-14 and Company has stopped its Activity from F.Y. 13-14. However, Before that period the Profit before tax earned by the Company was more than Rs. 5 Crores. In this situation whether CSR Provisions are applicable for the Financial Year 2014-15 ,F.Y. 2015-16 and F.Y. 16-17 ?
Our Company is not having any sales turnover from F.Y. 13-14 and Company has stopped its Activity from F.Y. 13-14. However, Before that period the Profit before tax earned by the Company was more than Rs. 5 Crores. In this situation whether CSR Provisions are applicable for the Financial Year 2014-15 ,F.Y. 2015-16 and F.Y. 16-17 ?
Jatin Bajaj
(Expert)
23 January 2017
As per section 135 of the companies act 2013, every company shall contribute 2% of the net profit of the company of the preeceding 3 years towards the csr activities. but if the Company is not having net profit during the 3 precceding years then no need to contribute towards the csr activities.
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