What is corporate social responsibility
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 April 2015
what is social corporate responsibility, please reply in brief.
28 April 2015
In brief, CSR (Corporate Social Responsibility) is company’s sense of responsibility towards the community and environment (both ecological and social) in which it operates.
For example- Conducting free health camps, Slum area development, making available safe drinking water, providing various facilities in schools etc.
With the enactment of the Companies Act, 2013, India has become the forerunner to mandate spend on Corporate Social Responsibility (CSR) activities through a statutory provision.
Section 135(1) of Company Act 2013 mandates the CSR expenditure for the following companies– Every company having a) net worth of Rs.500 crore, b) turnover of Rs.1000 crore c) or net profit of Rs.5.00 crore Where net profit excludes income from overseas branch & divided distributed by company on which this section apply. – If any company on which CSR provisions were applicable cease to come in above criteria for consecutive three years , they are not required to follow the provision of CSR.
Mandatory Expenditure:
Section 135(5) mandates 2 percent of the Average net profit during the three immediately preceding financial years.
For example- Conducting free health camps, Slum area development, making available safe drinking water, providing various facilities in schools etc.
With the enactment of the Companies Act, 2013, India has become the forerunner to mandate spend on Corporate Social Responsibility (CSR) activities through a statutory provision.
Section 135(1) of Company Act 2013 mandates the CSR expenditure for the following companies– Every company having a) net worth of Rs.500 crore, b) turnover of Rs.1000 crore c) or net profit of Rs.5.00 crore Where net profit excludes income from overseas branch & divided distributed by company on which this section apply. – If any company on which CSR provisions were applicable cease to come in above criteria for consecutive three years , they are not required to follow the provision of CSR.
Mandatory Expenditure:
Section 135(5) mandates 2 percent of the Average net profit during the three immediately preceding financial years.
29 April 2015
https://www.pwc.in/assets/pdfs/publications/2013/handbook-on-corporate-social-responsibility-in-india.pdf
https://www.caclubindia.com/articles/corporate-social-responsibility-csr--20094.asp#.VUBQxtKqqko
https://www.caclubindia.com/articles/corporate-social-responsibility-csr--20094.asp#.VUBQxtKqqko
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN REDEVELOPED FLAT
- Requirement under FEMA &RBI
- CLOSING STOCK QUERY
- Itr processing refund
- Multiple payment of self assessment tax for A Y 2025-2026
- Rent claimed on building given on permissive possession basis
- ITR 44AD SECTION
- Gst reverse charge mechanism to be claimed in the month of payment
- Residential status of non resident
- TDS refund Indemnity Bond
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
