Friends,
A Company's net profits are as under:
2013-14 - 2.5 crores
2012-13 - 2.01 crores
2011-12 - 10 crores
Turnover and Net Worth are less than the prescribed limits.
Is the Company required to spend on CSR activities in 2014-15?
Kindly clarify.
Menu
Csr - criteria
Replies (1)
Friends,
As clairified through MCA General Circular No. 21/2014 dated 18th June, 2014, “Any financial year” referred under Sub-Section (1) of Section 135 of the Act read with Rule 3(2) of Companies CSR Rule, 2014, implies ‘any of the three preceding financial years’.
Hence the Company as referred to above is required to spend 2% of its 3 years average net profits for CSR.
Recent Threads
- Sale value - sale deed or AIS
- Deductions under Schedule EI
- Income under section 194R
- Schedule FA A3 csv Example
- RCM ITC reported in Table 4(4) instead of 4(3) in
- TDS on sale of property where consideration is Rs.
- Treatment of intraday profit and fno loss in,ITR
- Regarding Conveyance allowance
- HRA from one employer but not from the other
- Grandparents gifts Rs.5 lakhs to a grandchild - Wh
Related Threads
CAclubindia
