Company law

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pradipta roy (Querist)
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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 ?

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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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.

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