Expenditure on csr
This query is : Resolved
ANIMESH PANDEY
(Querist)
24 March 2018
Dear Sir,
We are a private limited co. Last year our profit was more than 5crore and we had created provision for CSR fund but did not spend any amount on this but this year we are projecting our profit be much lower than 5 crore .
Now my question is , Would we require to spend on CSR this year or not ??
We are a private limited co. Last year our profit was more than 5crore and we had created provision for CSR fund but did not spend any amount on this but this year we are projecting our profit be much lower than 5 crore .
Now my question is , Would we require to spend on CSR this year or not ??
CS Mitesh Mehta
(Expert)
26 March 2018
CSR Rules provides that when a Company ceases to come under CSR criteria, even then it has to continue CSR activities for 3 years. In other words if the CSR criteria does not apply for three consecutive f inancial years, then the company can stop complying with the CSR regulations.
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