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CSR activity

Ravi Sharma (84 Points)

16 October 2018

Company who is required to spend for CSR activity during the current year is required to make a provision.

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5 Replies

Meenu (taxation manager) (648 Points)
Replied 16 October 2018

CSR should be actually incurred during the year

sanjith kotni (Articled assistant) (663 Points)
Replied 16 October 2018

if you cannot spend set aside such amount and disclose in financials accordingly.Since you earmarked specifically there is no non compliance

Ravi Sharma (84 Points)
Replied 16 October 2018

Simple say whether provision is required or not in year when company first time eligible for csr

Ajit Hegde (CA - Final) (1367 Points)
Replied 16 October 2018

No provision is required. A simple disclosure is enough

sanjith kotni (Articled assistant) (663 Points)
Replied 16 October 2018

if a company fails to spend the required amount it has to disclose in boards report as per sec 134 .There is no requirement to create provision .I. suggested like that earlier ..if u have an intention to spend otherwise not required

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