Corporate Social Responsibility Corporate Responsibility - amazonia.fiocruz.br

Corporate Social Responsibility Corporate Responsibility - recommend

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy. However, the Rules do make an exception. 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 for financial years , , as CSR 1. The Rules have further clarified that any activity undertaken by the company outside India shall not be considered as CSR unless such an activity pertains to training of Indian sports personnel representing the country at an international level or representing any state or union territory at a national level 2. The Rules have completely amended Rule 4 in the Existing Rules. The amended Rule 4 states that a Company can undertake CSR activities by itself or through any a company incorporated under Section 8 of the Act; b registered pubic trust; c registered society under Sections 12A and 80G of the Income Tax Act, ; d any entity established under an Act of Parliament or a State legislature; or e any company incorporated under Section 8 of the Act, registered pubic trust, registered society under Sections 12A and 80G of the Income Tax Act, which has an established track record of at least three years in undertaking similar activities 7. Every entity that needs to undertake any CSR activity will have to register itself with the Central Government. The amended Rule 4 ensures that it is the responsibility of the board of the company to monitor the implementation of CSR projects in accordance with project timelines and to ensure that the funds are utilized for the approved purpose. The board has been granted the power to make alterations to the projects if deemed necessary, to ensure better implementation with the prescribed time period 9. Corporate Social Responsibility Corporate Responsibility

Corporate Social Responsibility Corporate Responsibility Video

Section 27 of the Companies Amendment Act, Section 21 of the Companies Amendment Act, Further, if the Company does not have any ongoing project it must within a period of six months of the expiry of the previous financial year transfer the unspent amount to a fund specified in Schedule VII. Funds specified under Schedule-VII. Contribution to the Swach Bharat Kosh set-up by the Central Government for the promotion of sanitation.

Setoff shall not include surplus arising out of CSR Profits. Setoff has to be done within succeeding three financial years. However, any company engaged in research and development activity of new vaccine, drugs and medical devices in their normal course of business may Corporate Social Responsibility Corporate Responsibility research and development activity of new vaccine, drugs and medical devices related Responaibility COVID for financial years, subject to the conditions that.

A Source undertaking impact assessment may book the expenditure towards Corporate Social Responsibility for that financial year, which shall not exceed five percent of oScial total CSR expenditure for that financial year or fifty lakh rupees, whichever is less.

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Users of this information are expected to refer to the relevant existing provisions of applicable Laws. The user of the information agrees that the information is not a professional advice and is subject to change without notice. I assume no responsibility for the consequences of use of such information. In no event I shall be liable for any direct, indirect, special or incidental damage resulting from, arising out of or in connection with the use of the information. This is only a knowledge sharing initiative and author does not intend to solicit any business Corporate Social Responsibility Corporate Responsibility profession.

While calculating net profit for sectionsome credits and expenses are allowed, some are not, which have to be added back or subtracted accordingly. Computation of net profit for section is as per section of the Companies Act, which primarily is Net profit Before Tax.

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Company Law Articles. Funds specified under Schedule-VII 1. Name : CS Avinash Saini.]