Company has crossed Rs. 5 cr profit in FY 2018-19, whether the Company is required to spend on CSR Activities for 3 financial years i.e. for FY 2019-20, 2020-21 & 2021-22 ( including this FY). on 2019-20, 2020-21, the profit is below 5 crores .
As per the General Circular No. 14 /2021 dt. 25th Aug 2021 of MCA they had issued a FAQ .
A company satisfying any of the following criteria during the immediately preceding financial year is required to comply with CSR provisions specified under section 135(1) of the Companies Act, 2013 read with the Companies (CSR Policy) Rules, 2014 made thereunder:
(i) net worth of rupees five hundred crore or more, or
(ii) turnover of rupees one thousand crore or more, or
(iii) net profit of rupees five crore or more

As our above three criteria s are not matching , as per the circular of 25th Aug 2021, our auditors says there is no need to provide the CSR expenditure for FY 2020-21.

But as per our company secretaries is the FAQs on CSR as notified on 25th August, 2021 as just the FAQs based on the Act and Rules, these do not override the main section or the Rules.

Further the Rule 3(2) of the CSR Rules is still effective and has not undergone change or is void due to new changes incorporated through CSR Amendment Rules.

so as per CS Company has crossed Rs. 5 cr Turnover in FY 2018-19, hence as per the Rule 3(2) of the CSR Rules, the Company is required to spend on CSR Activities for 3 financial years i.e. for FY 2019-20, 2020-21 & 2021-22 .
I am very confused with the different opinions of CA & CS please guide me on this matter

Regards
sheela nair

Dear Sir,
I have Query regarding Gift paid by Mother -in- low (Age 80) paid to her daughter-in-law of a Jewellery of Rs.100000/- . Both are running a Proprietor Business. How to Give Treatment in both books of account ...Is this Un Secured Loan or What...

If we are running a restaurant bussiness and we are also delivering food via zomato & swiggy then zomato and swiggy cut their commission with axes and send us money on weekly basis after deducting tds and tcs. For their commission they gave us a service fee invoice.
So the question is
Why they cut tds and tcs ?
Bcz we are not giving them in any service and invoice

Sir,
A partnership firm income tax pay some amount through to one of a partner personal bank account online mode pay.
Question:
Above it pay amount transaction how to passed accounting entry partnership firm Books and partner personal account books.

Suppose I am a property dealer. I purchased a property amounting to Rs 1000000 and stamp duty of Rs 200000 and registration fees of Rs 100000 are also paid by me. What is the accounting treatment in this. Weather Purchase account debited to Rs 1300000 or purchase account debited to Rs 1000000 and direct expenses debited to Rs 300000.

Dear sir/Madam,

We bought the information technology software service from an Pvt ltd company, we deducted TDS at 10%, Please tell me the rate of TDS for this transactions. The HSN Code for this transaction is 998313, Where as the Total amount is Rs. 3,71,000 plus IGST 66,780. Total is 4,37,780.

Sir ,

We have taken the insurance for stock movement from other country to anywhere in india and for that purpose we have paid the premium to the insurance company ,My Question is that whether tds is to be deducted on such payment .

Secondly is any other tax applicable pls specify .


Regards

Sir,
It assess construction of house value rs:43,20,345/- balance show in books.if assess new construction strated upstair recently and some expenses paid.
Question:
Assess construction expenses for upstair amount addition construction of house value or separately maintained correct procedure show in Books.

Our Company Sells to NDFC companies . This Sale is not backed by any Bank guarantee of Hypothecation agreement. In such a case for classification whether this can be considered Secured . As RBI has said they will support the NBFC to protect from liquidation. Further will the position become different if we take a hypothecation agreement from the NBFC based on which we classify as secured

IF I RECEIVED DIVIDEND FROM COMPANY ON IDCW PLAN & REINVESTING THE SAME IN MUTUAL FUND THEN WHAT WILL BE THE ENTRY