Become a Govt. Certified GST Practitioner in just 60 hrs. Register Now!

Csr

Divya Jeswani (student) (217 Points)

08 September 2016

If formation of CSR Committee is must for a Holding Co. as per Sec. 135 of CA,2013;Will Formation of CSR Committee be necessary for its subsidiaries too??? plz do guide...

Reply
Follow
Share

3 Replies

ANKUR TAH (Teacher Consultant and CA finalist.) (543 Points)
Replied 09 September 2016

It's not mandatory.

Upgrade to CAclubindia Pro. Subscribe Now!

mohammad rasool baig (Management Consultant) (1026 Points)
Replied 09 September 2016

Conditions for forming CSR committee as per section 135 of COA

Every company having net worth of rupees five hundred crores 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 shall constitute a Corporate Social Responsibility Committee of the Board consisting of three or more directors, out of which at least one director shall be an independent director.

AS per CSR FAQs about CSR #8

Holding or subsidiary of a company does not have to comply with sec 135(1) unless the holding or subsidiary itself fulfills the criteria.

Link - https://www.mca.gov.in/Ministry/pdf/FAQ_CSR.pdf