Hi, ours is a Private Company registered under the Comapnies Act. We are a small company as defined in MSME Act. By any virtue, we aren’t required to have CSR Policy. However, voluntarily we want to draft a CSR Policy wherein we want to contribute 1% of our revenue (sales not profit) towards CSR wherein we shall use it for a cause including but not limited to charity as well. We are looking at drafting the CSR Policy and trying to understand the accounting treatment for it. Can someone advice. Thanks in advance.
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Csr policy msme
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The expenditure made under this head will not be allowed under Income Tax Act. so I suggest instead of creating a CSR policy and committee you please donate the money through PM relief fund. Otherwise take a sample policy of any company and make changes accordingly.
Hi Vasu, Thanks for your revert. Income Tax Relief isn’t a concern. The deeds we are looking at his uplifting the people we come across in our day to day lives. From sponsoring education of the needy to his health is what we looking at. Can you help us drafting the policy?
Then its great to serve the society... I will be grateful if I can help for any good cause !
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