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
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Treatment of Pension ?annuity returns on PMVY
- TAN for Partnership
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Long Term Service award taxability in hands of company
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Specified Profession
- Is it compulsory to File 10E if Income including Pension Arrears is below 12 Lakh for the F Y 25 26
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
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
