What is the CSR norm as per the 2013 company Act?
Applicability: Section 135 of the Companies Act 2013 provides the threshold limit for applicability of the CSR to a Company: (a) net worth of the company to be Rs 500 crore or more; or (b) turnover of the company to be Rs 1000 crore or more; or (c) net profit of the company to be Rs 5 crore or more.
Which schedule introduced CSR in Companies Act, 2013?
Schedule VII of
– net profit of Rs. 5 crore or more during the immediately preceding financial year shall constitute Corporate Social Responsibility Committee Meeting.
What is Section 135 of Companies Act, 2013?
Section 135 (1) 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 more during immediately preceding financial year shall constitute a Corporate Social Responsibility Committee of the Board consisting of three or …
What are the salient features of CSR as per Section 135 of the Companies Act, 2013?
Formulate and recommend to the Board, a CSR Policy which shall indicate the activities to be undertaken by the Company as specified in Schedule VII.
On which companies is CSR applicable?
The provisions of CSR applies to: Every company. Its holding company. It’s subsidiary company….Having in the preceding financial year:
- Net worth > 500 crore.
- Turnover > 1000 crore.
- Net profit > 5 crore.
Who can accept CSR funds?
As per guidelines issued by MCA, From 1st April 2021, CSR Funding will be released only to that NGOs, Trusts, Religious Trusts, Societies, 12AA registered entities, 80 G granted entities, Section 8 Company that are registered with MCA by filing Form CSR-1.So, if such institutions willing to receive CSR Funding then it …
What is a section 135?
Section 135 allows the police to enter your home and take you to (or keep you at) a place of safety so that a mental health assessment can be done. This could involve keeping you at home. The police must have a warrant from the magistrate’s court allowing them to enter your home.
When was corporate social responsibility introduced in India?
The concept of Corporate Social Responsibility was introduced in India within legal framework by the Companies Act, 2013. As per section 135 (1) of the Companies Act 2013, the CSR provision is applicable to companies which fulfills any of the following criteria during the immediately preceding financial year:-
What is the new Companies Act in India?
India`s new Companies Act 2013 (Companies Act) has introduced several new provisions which change the face of Indian corporate business” Companies Act 2013 (Companies Act) has introduced several new provisions which change the face of Indian corporate business. One of such new provisions is Corporate Social Responsibility (CSR).
What are the requirements for CSR in India?
As per section 135 (1) of the Companies Act 2013, the CSR provision is applicable to companies which fulfills any of the following criteria during the immediately preceding financial year:- Companies having a net profit of rupees five crore or more.
Who are the companies under the CSR Act?
Applicability As per section 135 (1) of the Companies Act 2013, the CSR provision is applicable to companies which fulfills any of the following criteria during the immediately preceding financial year:- Companies having net worth of rupees five hundred crore or more, or Companies having turnover of rupees one thousand crore or more, or