CSR query?

CSR(Company social responsibility) expenses Deduction allowed or not?If allowed how much limit?
Replies (7)
Quick Summary
This discussion clarifies whether Corporate Social Responsibility (CSR) expenses are eligible for tax deduction under Section 37 of the Income Tax Act, 1961. While generally not allowed as a deduction from profits, the conversation points to relevant case laws and other sections (30-44DB) for potentially deductible expenses. It also briefly touches upon Alternative Minimum Tax (AMT) and the valuation of raw material inventory at replacement cost.

As per section 37 of the Income tax act 1961 , CSR expenditure are not allowed as deduction  from  profit , however you Can go through certain Case laws.

@ dear Prasad Nillugal sir what are the expenses are eligible to deduction as per Income Tax act , what are the items
Refer section 30 to section to 44DB of the Income tax act.
@ Prasad Nillugal sir, alternative minimum tax means?

AMT  is tax computed  on the adjusted  total  income of  the Non corporate entities . @ 18.5 % 

( refer  section 115 JC  of the income tax act )

Why sometimes inventory of raw materials are valued at replacement cost??

I remember , I had answered  this question  earlier please check . 

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