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MCA issues Clarification on spending of CSR funds for Awareness and public outreach on COVID-19 Vaccination programme

General Circular No. 01/2021  E-file no. CSR-10/9/2020-CSR-MCA  Government of India  Ministry of Corporate Affairs  5th Floor, 'A' Wing, Shastri Bhawan,  Dr. R. P. Marg, New Delhi - 110 001  Date: 13th January 2021  To,  The DGCoA,  All Regional Directors,  All Registrar of Companies,  All Stakeholders.    Subject: - Clarification on spending of CSR funds for Awareness and public outreach on COVID-19 Va..

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Indian Public Healthcare Infrastructure and Role of CSR in its Improvement

Introduction: "There's enough on this planet for everyone' s needs but not for everyone's greed" - Mahatma Gandhi "Development has to be achieved collectively and it has to be quick paced and inclusive" - PM Narendra Modi. The above quotes are the mere indication that development of the country is very important provided it should not harm the wholesomeness or goodness of the nature as well as society. Along with economic development there must exist a su..

Posted in articles |   342 Views


ICAI at the forefront of Corporate Social Responsibility

ICAI is always at the Forefront of fulfilling its duties for #CorporateSocialResponsibility globally as a responsible profession.  ..

Posted in news |   177 Views


MCA amends Companies (CSR Policy) Rules, 2014 of the Companies Act, 2013

The MCA amends the CSR Policy Rules 2014. Now any company engaged in research and development activity of new vaccine, drugs and medical devices in their normal course of business may undertake research and development activity of new vaccine, drugs and medical devices related to COVID-19 for financial years 2020-21, 2021-22 and 2022-23 subject to certain conditions as mentioned below: MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 24th August, 2020 G.S.R. 526(E). - In exercis..

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Accounting for corporate social responsibility

Requirement as per S.135 of Companies Act, 2013 Section 135 of the Companies Act, 2013 requires the Board of Directors to constitute a Corporate Social responsibility Committee for the following companies: a. Company having a net worth of Rs. 500 crores or more b. Turnover of Rs. 1000 crores or more c. Net profit of Rs. 5 crores or more Activities of Corporate Social Responsibility Committee 1. It has to formulate and recommend to the Board, the Corporate Social Responsibility Poli..

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ICAI releases Technical Guide on CSR

CSR Committee The Institute of Chartered Accountants of India 6th July, 2020 ANNOUNCEMENT The CSR Committee has released the Technical Guide on Accounting for Expenditure on Corporate Social Responsibility Activities on 1st July, 2020. Click here to view/download the same Subsequent to the issue of the Technical Guide on Accounting for Expenditure on Corporate Social Responsibility Activities, the Guidance Note on Accounting for Expenditure on Corporate Social Responsibility Activitie..

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Decoding impact of GST on CSR activities in relation to COVID-19

MEANING OF CORPORATE SOCIAL RESPONSIBILITY: 'Corporate Social Responsibility' means and includes but is not limited to projects or program relating to activities specified in Schedule VII to The Act and projects or program relating to those activities which are undertaken by Board of directors of a company in ensuring the recommendation of the CSR Committee of the Board as per declared CSR policy of the Company along with the conditions that such policy will cover subjects specified i..

Posted in articles |   2 comments |   1557 Views


Eligibility of CSR expenditure through a registered trust on school

Query: Whether the expenses incurred by a company through a registered trust on school are eligible for Corporate Social Responsibility ("CSR") under the Companies Act, 2013? Reply: Brief and relevant Background of Law:   Section 135 of Companies CA, 2013; Every company having net worth of rupees five hundred crore or more, or turnover of rupees one thousand crore or more or a net profit of rupees five crore or mo..

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SECTION 135 All about CSR and recent amendment

SECTION 135:- CORPORATE SOCIAL RESPONSIBILITY {principal act} Every company having a Net Worth of  Rs 500 crore or more; or Turnover of Rs 1000 crore or more; or Net Profit of Rs 5 crore or more, during any financial year shall constitute a CSR Committee of Board consisting of 3 or more directors, out of which atleast one director should be independent director. The Board’s report shall disclose the composition of CSR committee. The CSR committee shal..

Posted in articles |   5 comments |   2139 Views


CSR existing and proposed rules Analysis and suggestions

The Companies (Corporate Social Responsibility Policy) Rules, 2014 Dated: 27th February, 2014 G.S.R. 129(E). - In exercise of the powers conferred under section 135 and sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules, namely: - 1. Short title and commencement. – (1) These rules may be called the Companies (Corporate Social Responsibility Policy) Rules, 2014. (2) They shall come into force ..

Posted in articles |   801 Views


Last date for public comments on CSR Policy extended

Government of India Ministry of Corporate Affairs Invitation for Public Comments on the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2020 9th April 2020 New Delhi Ministry of Corporate Affairs had invited for public comments on the draft Companies (Corporate Social Responsibility Policy) Amendment Rules, 2020 vide a notice dated 13th March, 2020. The last date to submit comments was 28th March, 2020 which was further extended till 10th April 2020. 2. However,..

Posted in news |   1038 Views


COVID-19 related FAQs on CSR

After the Ministry of Corporate Affairs announced that donations made by the companies to the PM CARES Fund would be considered as expenditure on Corporate Social Responsibility, many companies came through with their donations. However, there are a lot other ways that a company can use their CSR Funds to help the country fight COVID-19. Activities related to COVID-19 like promotion of healthcare, preventive healthcare, sanitation, disaster management would qualify for treatment as CSR, as per c..

Posted in articles |   2 comments |   2034 Views


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