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.
CAclubindia
