Csr funding
This query is : Resolved
CS S.Abhinav
(Querist)
31 August 2018
If a company is contributing to PM Relief Fund as CSR, will it get tax exemption under Section 80G ?
We have a TRUST for Charity Purposes, if we contribute an amount of Rs 13 lakhs (13 lakhs to be spent under CSR) to that Trust will it be considered as CSR expenditure ?
We have a TRUST for Charity Purposes, if we contribute an amount of Rs 13 lakhs (13 lakhs to be spent under CSR) to that Trust will it be considered as CSR expenditure ?
CS Mitesh Mehta
(Expert)
03 September 2018
1.Yes.
2. The Ministry of Corporate Affairs has vide General Circular No. 21/2014 dated June 18, 2014 has clarified that Contribution to Corpus of a Trust/ Society/ Section 8 companies etc. will qualify as CSR expenditure as long as
(a) the Trust/ Society/ Section 8 company etc. is created exclusively for undertaking CSR activities or
(b) where the corpus is created exclusively for a purpose directly relatable to a subject covered in Schedule VII of the Act
2. The Ministry of Corporate Affairs has vide General Circular No. 21/2014 dated June 18, 2014 has clarified that Contribution to Corpus of a Trust/ Society/ Section 8 companies etc. will qualify as CSR expenditure as long as
(a) the Trust/ Society/ Section 8 company etc. is created exclusively for undertaking CSR activities or
(b) where the corpus is created exclusively for a purpose directly relatable to a subject covered in Schedule VII of the Act
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