Allowance or disallowance
This query is : Resolved
ASHISH SHARMA
(Querist)
23 August 2014
why the csr exp is not deducted from spl a/c of a company
Nikhil Kaushik
(Expert)
23 August 2014
there are two views to it:
1. given that CSR expense is required as per the Act governing the Companies, such expense should be allowed
2. however, given that CSR rules clearly state that CSR spend should not be in fields related to the main activities of the company, tax department may argue that such expense doesn't meet the criterion required under section 37 and hence should be disallowed.
So you gotta wait and watch for clarification to come from CBDT.
regardless, deduction under 80G shall be available.
1. given that CSR expense is required as per the Act governing the Companies, such expense should be allowed
2. however, given that CSR rules clearly state that CSR spend should not be in fields related to the main activities of the company, tax department may argue that such expense doesn't meet the criterion required under section 37 and hence should be disallowed.
So you gotta wait and watch for clarification to come from CBDT.
regardless, deduction under 80G shall be available.
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