Calculation of csr provision
This query is : Open
18 March 2016
How to calculate CSR ? in simpal manner. sec198 of company act 2013 format was so confusing .
RICHA KUMAR
(Expert)
19 March 2016
Particulars* Amount
Profits as per Profit & Loss Account XXX
Credit to be provided for:
Bounties and subsidies received from Government XXX
Credit not to be provided for:
Premium/ Profit on sale of shares
Profits of Capital Nature – including profits on sale of undertakings
Profits from sale of immovable property/ fixed assets – unless undertaken
Permissible Deductions:
Usual Working Charges- revenue expenditures, bonus or commission Abnormal or Special Tax
Interest on debentures, loans or advances
Compensations/ damages in virtue of legal liability, bad debts written off… (XXX)
(XXX)
(XXX)
(XXX)
Non- permissible deductions:
Income tax paid under Income Tax Act, 1961 Loss of Capital Nature
Compensations/ Damages paid voluntarily
Profits as per Section 198 XXX
Particulars* Amount
Profits as per Profit & Loss Account XXX
Credit to be provided for:
Bounties and subsidies received from Government XXX
Credit not to be provided for:
Premium/ Profit on sale of shares
Profits of Capital Nature – including profits on sale of undertakings
Profits from sale of immovable property/ fixed assets – unless undertaken
Permissible Deductions:
Usual Working Charges- revenue expenditures, bonus or commission Abnormal or Special Tax
Interest on debentures, loans or advances
Compensations/ damages in virtue of legal liability, bad debts written off… (XXX)
(XXX)
(XXX)
(XXX)
Non- permissible deductions:
Income tax paid under Income Tax Act, 1961 Loss of Capital Nature
Compensations/ Damages paid voluntarily
Profits as per Section 198 XXX
19 March 2016
Thank you richa but it is same as sec198 format is there is any other way to compute in simple manner.
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