CSR Applicability based on 20-21 profit
This query is : Resolved
02 September 2021
Company is having PBT more than Rs 5 cr up to FY 19-20. But during 20-21 company's PBT is less than-
Rs 5cr.
Company is not qualifying for CSR under other criteria of net worth and Turn over.
Is it company have qualify for CSR applicability based on 20-21 PBT ?
Rs 5cr.
Company is not qualifying for CSR under other criteria of net worth and Turn over.
Is it company have qualify for CSR applicability based on 20-21 PBT ?
02 September 2021
20-21 profit is less than 5 crore CSR not applicable for 21-22.
Message likes :
1 times
02 September 2021
Thanks sir..........
02 September 2021
Dear Sir,
Any provision in companies act, once CSR provision applicable to any company they have to continue for 3 years irrespective turnover falls below Rs 5cr during any FY?
Any provision in companies act, once CSR provision applicable to any company they have to continue for 3 years irrespective turnover falls below Rs 5cr during any FY?
02 September 2021
Companies are expected to spend 2% of the average profit of the last 3 years – hence, even for two consecutive years if the company has been in loss, but on an average, the company has been in profit since the last 3 years, then the company would be required to spend 2% of the average profit on the stipulated CSR ...
02 September 2021
Thanks... request for small confirmation also for better clarity.
PBT
17-18 - Rs 3.5 Cr
18-19 - Rs 7 Cr
19-20 - Rs 23 lakhs
Avg for three years is Rs 3.57 cr. For FY 20-21 CSR is applicable based on this average and profitability of 19-20 alone?
PBT
17-18 - Rs 3.5 Cr
18-19 - Rs 7 Cr
19-20 - Rs 23 lakhs
Avg for three years is Rs 3.57 cr. For FY 20-21 CSR is applicable based on this average and profitability of 19-20 alone?
02 September 2021
For FY 20-21 CSR is applicable based on the average.
02 September 2021
Thanks sir...............
06 September 2021
As per given information, CSR will not applicable on 2021-22.
06 September 2021
Rules and sections has been changed so look at that also.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
