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 D..
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 ..
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. ..
Decoding impact of GST on CSR activities in relation to COVID-19..
CSR is intended for spending on welfare areas for which the government claims to lack funds and requires assistance. Yes, Corporate can claim Contribution given to a School though any trust and/or Corpus of trust for the purpose of promoting education. ..
CSR existing and proposed rules Analysis and suggestions ..
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. ..
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. ..
Contribution to Chief Minister Relief Fund's shall not qualify as CSR activity as per the latest FAQs released by MCA. ..