Section 135 of the Companies Act, 2013 mandates every company above the given threshold levels to comply with Corporate Social Responsibility (CSR) provisions of the Act, and to disclose contents of its CSR policy in its Board’s Report. The penalty provision for non-compliance in this regard is prescribed under Section 134 (8) of the Act.
Provisions for CSR compliance by companies, as prescribed under Section 135 of the Act, have the force of law.
This is the first year of CSR implementation by companies under the Act. The likely amount of CSR expenditure for the year 2014-15 would be known only after the Annual Financial Statements are filed by companies due after September, 2015. It may be prudent to not speculate on the quantum of CSR expenditure at this stage.
This was stated by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Rajya Sabha today.
Legal Backing for CSR Compliance
Last updated: 10 December 2014
Follow on
Google News
News posted by
CCI News Desk
Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.
Comments
Recent News :
- GSTN Revises Amendment of Aggregate Annual Turnover (AATO) Amendment Timeline for FY 2025-26
- ICAI Celebrates 78th CA Day 2026, Highlights AI, Ethics, Global Growth and Viksit Bharat Vision
- ICAI Makes Peer Review Process Digital, Introduces New PRB Web Portal
- Govt Extends Customs Duty Exemption on Critical Petrochemical Imports Till July 15, 2026
- Centre Notifies New Excise Duty Rates on Petroleum Products Effective 1st July 2026
- GSTAT Appeal Filing Deadline Extended Till 31st July 2026
- ICAI Strengthens AI Push with Sarvam AI Partnership and New AI Certification Course
- RBI Issues Credit Derivatives Master Direction 2026
- CBDT Notifies University of Hyderabad and PHFI as Approved Scientific Research Institutions Under Income Tax Act, 2025
- MCA Releases Corporate Mitra Scheme Guidelines 2026
Popular News
- MCA Releases Corporate Mitra Scheme Guidelines 2026
- GSTN Issues Advisory on e-Invoice API and e-Way Bill by IRN API Changes Effective from 1st August 2026
- MCA Extends DPT-3 Filing Due Date: No Additional Fees Till 31st July 2026
- ICAI Strengthens AI Push with Sarvam AI Partnership and New AI Certification Course
- Income Tax Department Enables Online Challan Correction Facility
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
