As per Section 135 (1) of Companies Act, 2013

Every company having net worth of rupees five hundred crore or more, or turnover of rupees one
thousand crore or more or a net profit of rupees five crore or more during any financial year
shall constitute a Corporate Social Responsibility Committee of the Board consisting of three or
more directors, out of which at least one director shall be an independent director.

Question- whether the net profit which is mentioned above under section 135(1) is Net Profit
after tax or Net Profit Before tax?
Because Nowhere in Companies act, 2013 it is defined whether it is Net Profit Before Tax or Net
profit After Tax.

Once ministry came out with
General Circular No. 01/2016 No. 05/19/2015-CSR

And in the circular, it is defined in reference to
Question-Whether the “average net profit” criteria for section 135(5) is Net Profit Before tax or
Net Profit After Tax
Answer- computation of net profit for section 135 is as per section 198 of the companies Act,
2013 which is primarily Profit Before tax.



SO I WANT TO KNOW FOR CSR APPLICABILITY UNDER SECTION 135(1) WE HAVE TO CONSIDER NET PROFIT AFTER TAX OR NET PROFIT BEFORE TAX?

As per Section 135 (1) of Companies Act, 2013 Every company having net worth of rupees five hundred crore or more, or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more during any financial year shall constitute a Corporate Social Responsibility Committee of the Board consisting of three or more directors, out of which at least one director shall be an independent director. Question- whether the net profit which is mentioned above under section 135(1) is Net Profit after tax or Net Profit Before tax? Because Nowhere in Companies act, 2013 it is defined whether it is Net Profit Before Tax or Net profit After Tax. Once ministry came out with General Circular No. 01/2016 No. 05/19/2015-CSR And in the circular, it is defined in reference to Question-Whether the “average net profit” criteria for section 135(5) is Net Profit Before tax or Net Profit After Tax Answer- computation of net profit for section 135 is as per section 198 of the companies Act, 2013 which is primarily Profit Before tax. SO I WANT TO KNOW FOR CSR APPLICABILITY UNDER SECTION 135(1) WE HAVE TO CONSIDER NET PROFIT AFTER TAX OR NET PROFIT BEFORE TAX?

Read more at: https://www.caclubindia.com/experts/ask_query.asp

As per Section 135 (1) of Companies Act, 2013
Every company having net worth of rupees five hundred crore or more, or turnover of rupees one
thousand crore or more or a net profit of rupees five crore or more during any financial year
shall constitute a Corporate Social Responsibility Committee of the Board consisting of three or
more directors, out of which at least one director shall be an independent director.

Question- whether the net profit which is mentioned above under section 135(1) is Net Profit
after tax or Net Profit Before tax?
Because Nowhere in Companies act, 2013 it is defined whether it is Net Profit Before Tax or Net
profit After Tax.

Once ministry came out with
General Circular No. 01/2016 No. 05/19/2015-CSR

And in the circular, it is defined in reference to
Question-Whether the “average net profit” criteria for section 135(5) is Net Profit Before tax or
Net Profit After Tax
Answer- computation of net profit for section 135 is as per section 198 of the companies Act,
2013 which is primarily Profit Before tax.



SO I WANT TO KNOW FOR CSR APPLICABILITY UNDER SECTION 135(1) WE HAVE TO CONSIDER NET PROFIT AFTER TAX OR NET PROFIT BEFORE TAX?

Hi CA club india team,

This is P.V.Bala Krishna i am an Sr.Accounts Executive at Apple Spire India LLP which is constructing residential apartments at Bangalore.

I have a query about gst rate , rules, & calculations for advance receipts against construction services. Can i get the solution for the above query please.

Sir,

My one client turnover below rs. 1 Crore and also declare income more than 8% of turnover. but he still wants to audit his account. can we do so? if yes, then under which section it would be audited? please reply fast?

Can we take Transitional tax credit of excise duty paid capital goods Machinery purchased in april17 and excise duty paid, however assessee is not earlier registered under excise Act/Service Tax But assessee is registered under GST

Hello Sir/madam,
Whether Tools and Equipment's having purchase value of less than 1000 should be capitalized or expense out.
what should be the criteria for capitalizing such asset.
thanks in advance!!!

Can service tax liability be adjusted against GST payable? Since the assessee has not rendered the service and made refund of advances received before June, 2017.

Dear
I have a query regarding data to be filled in FORM 15CB

There is column in 15CB

--Amount payable

in Foreign Currency

In Indian Curerncy

My both NRO & NRE accounts are in india

Which figure i should fill in the column of foreign currency ( Indian rupee or British Pound i.e Currency i want to convert )


Please resolve the query

Sir

We are a GST registered company in Punjab. We have hired a advocate for handling a case in Chandigarh High Court. Advocate has raised his bill for professional fees. Advocate also belongs to Chandigarh.
Chandigarh is a Union Territory

Now we have to deposit RCM
Which RCM Should we deposit IGST OR SGST/CGST
Kindly reply at the earliest