Corporate social responsibility (csr)

Sunny (CA Business) (401 Points)

21 September 2018  

If M/s XYZ Pvt. Ltd. has Profit before tax as under:

FY 2015-16: 1 Cr

FY 2016-17: 3 Cr

FY 2017-18: 6 Cr

Whether, the provisions of CSR activities (Section 135) will be made applicable in FY 2017-18 or have to fulfill in FY 2018-19? That is to say, 2% of the average Net Profit of 3 immediately preceding financial years has to be spent in FY 2017-18 itself?