Profit for csr

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Querist : Anonymous

Querist : Anonymous (Querist)

26 June 2015 Sir,
Please arrange for any practical illustration of computation of NET Profit for CSR (Corporate Social Responsibility Expenses)
I gone through sec 198 but still not able to understand what is Usual Working Charges

Please give any practical working with figures

Ankur Garg

Ankur Garg (Expert)

26 June 2015 1. Net profit for FY 2013-14 was 1,00,000.
2. Net profit for FY 2013-14 was 2,00,000.
3. Net profit for FY 2013-14 was 3,00,000.

Total profit for last 3 year was Rs. 600000.
Avg profit for CSR would be Rs. 200000. Simply calculate 2% of 200000.

Note: As per First proviso of Rule 2(f) of the CSR Rules, net profit is not required to be adjusted in terms of Sec 198 of CA’ 2013.

First proviso of Rule 2(f) of the CSR Rules: “Provided that net profit in respect of a financial year for which the relevant financial statements were prepared in accordance with the provisions of CA 1956, shall not be required to be re-calculated in accordance with the provisions of CA 2013.”

Thanks

Querist : Anonymous

Querist : Anonymous (Querist)

26 June 2015 Ya...
I hope it will work

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