Indian company act 2013
This query is : Resolved
17 August 2014
Applicable for Every company having net worth of rupees five hundred crore or more, or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more during any financial year must spend at least two per cent. of the average net profits of the company made during the three immediately preceding financial years.
Read Section 135 of Companies Act 2013 srom below link for details--
http://www.mca.gov.in/SearchableActs/Section135.htm
Read Section 135 of Companies Act 2013 srom below link for details--
http://www.mca.gov.in/SearchableActs/Section135.htm
17 August 2014
The Ministry of Corporate Affairs (MCA) notified section 135 of the Companies Act, 2013. It has also revised the Schedule VII to the Companies Act, 2013, which provides the list of activities which may be undertaken as Corporate Social Responsibility activities under section 135 of the Companies Act, 2013. The rules in this regard namely ‘Companies (Corporate Social Responsibility Policy) Rules, 2014’ are also notified. The provisions of section 135, revised schedule VII and the CSR rules shall come into force with effect from April 1, 2014. The link of the said notification is:
http://www.mca.gov.in/Ministry/pdf/CompaniesActNotification1_2014.pdf (Section 135 effective w.e.f. April 01, 2014)
http://www.mca.gov.in/Ministry/pdf/CompaniesActNotification3_2014.pdf ( Revised Schedule VII)
http://www.mca.gov.in/Ministry/pdf/CompaniesActNotification2_2014.pdf (CSR Rules)
http://www.mca.gov.in/Ministry/pdf/CompaniesActNotification1_2014.pdf (Section 135 effective w.e.f. April 01, 2014)
http://www.mca.gov.in/Ministry/pdf/CompaniesActNotification3_2014.pdf ( Revised Schedule VII)
http://www.mca.gov.in/Ministry/pdf/CompaniesActNotification2_2014.pdf (CSR Rules)
17 August 2014
Also check out circular issued by MCA providing clarification on the CSR provisions from link given below--
http://www.mca.gov.in/Ministry/pdf/General_Circular_21_2014.pdf
http://www.mca.gov.in/Ministry/pdf/General_Circular_21_2014.pdf
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