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Doubts in csr
Please guide if Company’s Net Profit Before Tax is more than 5 Cr in F. Y. 2015-16 then in which year shall the CSR committee should be formed & expenditure be done also in which year CSR applicability should be disclosed in Board’s report.
Replies (6)
since the company's pbt is>5 cr. in 15-16, the company has to constitute a csr committee in 16-17 and also spend the proposed amt in same year. Disclosure in board report is required in 16-17
Please also guide in wich circular or section detailes of CSR will be mention.
as per section 135 of the companies act 2013 , Read with CSR Rules , Company having net profit as per the Balalnce sheet as on 31st March 2016 of 5 crore rupees or more shall constitute CSR Committee after 31st March 2016 and as per section 135(5), every company having net profit of rs 5 crore or more shall spend 2% of the average net profit of the company after formation of committee and has to disclose in the Board report prepared for the year 2015-2016 after 31st March 2016
refer s135 with csr rules ch ix
*ch ix a rules. also board report for the fy16-17 must contain the details of csr. need not be reported in 15-16 report
| Originally posted by : Jatin Bajaj | ||
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as per section 135 of the companies act 2013 , Read with CSR Rules , Company having net profit as per the Balalnce sheet as on 31st March 2016 of 5 crore rupees or more shall constitute CSR Committee after 31st March 2016 and as per section 135(5), every company having net profit of rs 5 crore or more shall spend 2% of the average net profit of the company after formation of committee and has to disclose in the Board report prepared for the year 2015-2016 after 31st March 2016 |  |
I dont agree that CSR committee to be formed in 2015-16 .
it will have to be taken care in 2016-17
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