Applicability of csr to holding / subsidiary
This query is : Resolved
prachi gupta
(Querist)
01 December 2014
As per rule 3
Every company including its holding or subsidiary, and a foreign company defined under clause (42) of section 2 of the Act having its branch office or project office in India, which fulfills the criteria specified in sub-section (1) of section 135 of the Act shall comply with the provisions of section 135 of the Act and these rules.
Does it mean applicable to company means automatically holding and subsidiary need to follow or we have to see applicability individually.
Every company including its holding or subsidiary, and a foreign company defined under clause (42) of section 2 of the Act having its branch office or project office in India, which fulfills the criteria specified in sub-section (1) of section 135 of the Act shall comply with the provisions of section 135 of the Act and these rules.
Does it mean applicable to company means automatically holding and subsidiary need to follow or we have to see applicability individually.
CS Mitesh Mehta
(Expert)
01 December 2014
you have to see applicability individually
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prachi gupta
(Querist)
01 December 2014
ok sir, can it mean you have to see combined networth / turnover / profit
because i am not able to understand why this statement is included.
"Every company" means all companies holding and subsidiary are automatically covered
because i am not able to understand why this statement is included.
"Every company" means all companies holding and subsidiary are automatically covered
01 December 2014
no, as it has to be seen company wise seperately for subsidiaries and holding co.
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prachi gupta
(Querist)
01 December 2014
ok sir, then it must be just clarification that holding / subsidiary each one has to see there own implementation
01 December 2014
every company means you need to check every company wise seperately i.e for holding comany and for subsidiary etc otherwise they would have clarifed that for holding company even thier all subsidiaries shall have to apply sec 135 irrespective of their net worth/ turnover/ paid up capital etc
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