CSR CLARIFICATION
This query is : Resolved
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Shankar T S
(Querist)
16 September 2021
Our unit had a loss in 19-20 but profit in 17-18 and 18-19. So for CSR if we calculate based on average profit of 3 years there is profit and 2% of that amt was arrived at for CSR spend in 20-21.
Is the calculation and understanding correct . Kindly advise if in the immediately preceding financial year if there is a loss then should we decide not to do any CSR
Is the calculation and understanding correct . Kindly advise if in the immediately preceding financial year if there is a loss then should we decide not to do any CSR
CA R SEETHARAMAN
(Expert)
16 September 2021
Yes, the calculation and understanding is right. Loss of cosequtive 3 years required for not to do any CSR.
Shankar T S
(Querist)
17 September 2021
Thank you sir for your clarification
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