Company law
This query is : Resolved
20 September 2014
What is the amount to be spent on CSR activity if it has incurred net loss ,even its net worth etc exceed the prescribed amounts ?
20 September 2014
For the purpose of First CSR reporting the Net Profit shall mean average of the annual net profit of the preceding three financial years.
1. Net Profit/(Loss if any) before tax as per books of FY 2013-14
2. Net Profit before tax as per books of FY 2012-13
3. Net Profit before tax as per books of FY 2011-12
Total of above three, divided by 3 will gives you Average of annual net profit of the preceding three financial years
CSR expenditure for the FY 2014-15 will be 2 % of the average annual net profit as calculated above.
1. Net Profit/(Loss if any) before tax as per books of FY 2013-14
2. Net Profit before tax as per books of FY 2012-13
3. Net Profit before tax as per books of FY 2011-12
Total of above three, divided by 3 will gives you Average of annual net profit of the preceding three financial years
CSR expenditure for the FY 2014-15 will be 2 % of the average annual net profit as calculated above.
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