Hi Everyone,
Pls Advise on the following:-
Suppose any company falls into any 1 criteria of out of 3 criteria for applicability of CSR provsion,then for that company CSR is recomendary or Mandatary?
If it is mandatary but company not take initiative for forming the commitee or spending of 2% amount then what shall be the consequenses?
Falling in even one criteria of the CSR as prescribed, makes it mandatory for the Company...the details of the committee and the amount spend have to be mentioned in the directors report....it will be checked by the ROC and will be penalised and/or investigated accordingly....
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
