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CSR

CA Sapna Ghelani (Chartered Accountant) (7550 Points)

06 March 2021

Can any tax benefit be availed under CSR?

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CA. Sourav Sarkar (Chartered Accountant ) (24578 Points)
Replied 06 March 2021

No specific tax exemptions have been extended to CSR expenditure per se. The Finance Act, 2014 also clarifies that expenditure on CSR does not form part of business expenditure. While no specific tax exemptions have been extended to expenditure incurred on CSR, spending on several activities like Prime Minister's Relief Fund, scientific research, rural development projects, skill development projects, agriculture extension projects etc, which fund place in Schedule VII, already enjoys exemptions under different sections of the Income-tax Act, 1961. ”

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