Calculation of net profit for csr

This query is : Resolved

Anjali Sharma (Querist)
Follow

24 June 2015 Can anybody tell me how to calculate the Net profit to CSR Purpose?

Pls reply as soon as possible

I'll be great full

Ankur Garg

Ankur Garg (Expert)
Follow

24 June 2015 Simply take net profit of last 3 years and calculate average.

Note: As per First proviso of Rule 2(f) of the CSR Rules, net profit is not required to be adjusted in terms of Sec 198 of CA’ 2013.

First proviso of Rule 2(f) of the CSR Rules: “Provided that net profit in respect of a financial year for which the relevant financial statements were prepared in accordance with the provisions of CA 1956, shall not be required to be re-calculated in accordance with the provisions of CA 2013.”

Thanks

Message likes : 1 times

Anjali Sharma

Anjali Sharma (Querist)
Follow

24 June 2015 Thank you so Much Sir !

Ankur Garg

Ankur Garg (Expert)
Follow

24 June 2015 You are always welcome and keep sharing your doubts.

Regards

Message likes : 1 times

Anjali Sharma

Anjali Sharma (Querist)
Follow

24 June 2015 Sure Sir ! Sir i jus want to confirm that i have take Net profit after tax as per Profit & loss account for their respective year (2011-12, 2012-13, 2013-14) to calculate the Net profit for last three year.

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
Follow

24 June 2015 CSR is applicable from FY 2014-15. For the purpose of First CSR reporting the Net Profit shall mean average of the annual net profit of the preceding three financial year i.e FY 2013-14, FY 2012-13 & FY 2011-12

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Aayushi Chauhan

KAVITA CHAUHAN

chandradhass sathish

ATUL MAKWANA

Tia Blair

Subscribe Now

Calculation of net profit for csr

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Accountant

GST CONSULTANCY

Manager- Finance and Compliance

Senior Executive

GST CONSULTANT

CA Final