Csr obligation under companies act, 2013

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

06 January 2014 Dear Sir,

I have few queries regarding Corporate Social Responsibilty (CSR) rules.

1. From which financial year a company which comes under CSR applicabilty has to spend atleast 2% of average net profits of last three financial year? From F.Y.2013-14 or from F.Y.2014-15.? (CSR reporting will be applicable for From F.Y.2014-15.)

2. Whether a company has to spend 2% of average net profit for each three years?? i.e. for f.y.2011-12, f.y.2012-13 & f.y.2013-14? or for only F.Y.2013-14.?

3. Listed or other prescribed companies can not appoint an audit firm for more than two terms of five consecutive years. in that case, Where a Statutory auditor is a firm, period of appointment will be counted from F.Y.2013-14 or from previous years??

4. Are there any institution or trusts prescribed for spending 2% of average net profits??.

I will be very grateful to you for providing some guidelines and clarity on above subjects. or provide reference to clear my doubts.

waiting.....:)

Guest

Guest (Expert)

06 January 2014 Please Refer..
https://www.cuts-international.org/pdf/Draft-CSR_Rules_2013.pdf

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

06 January 2014 Thanks Rachit.....

But i still cannot make conclusions for my queries. can you please elaborate? Reporting f.y. is 2014-15. so do a company require to spend 2% from f.y.2013-14 itself??

Guest

Guest (Expert)

06 January 2014 Friend it is expected to be implemented from 2014-2015..It is confirmed not from 2013-14.

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

07 January 2014 thank you rachit for ur help. it enhanced my knowledge & i appreciate it.. thanks again.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

George Innocent

SUBHASH SAHA

Narendra

Krishnaveni karur

KRK

Subscribe Now

Csr obligation under companies act, 2013

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

CA Final

Manager- Finance and Compliance

GST CONSULTANCY

GST CONSULTANT

Accountant