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- Posted By: Anjali 11 year(s) ago
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A Company is required to spend say Rs.10 on CSR in the FY 2014-15. The amount of Rs.10 is based on 2 of average PBT of the FY 2011
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A Company is required to spend say Rs.10 on CSR in the FY 2014-15. The amount of Rs.10 is based on 2 of average PBT of the FY 2011:12, 2012:13 and 2013:14. In the FY 2014:15, the Company actually spent Rs.5 on the CSR projects identified by it and Rs.3 will be spent on the same projects in the next FY, leaving Rs.2 not to be spent by it. The Board also gives reasons for not spending Rs.2 to its shareholders. With this background, my Question is –How Companies will record the amount under CSR Pool, as it is not in the nature of “Reserve”, which can be brought back to Profit. In the given case, where the amount i.e. Rs.2 not spent will go. As per the Draft CSR Rules, surplus arising out of the CSR activity will not be part of business profits of the company. | By. DS Mahajan
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- Posted By: Vivek vijay 11 year(s) ago
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- Posted By: Chandra 11 year(s) ago
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- Posted By: V.b. mahajan 10 year(s) ago
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- Posted By: Pooja hiranandani 9 year(s) ago
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- Posted By: Pawan 9 year(s) ago
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Rule 2f of the CSR Rules, 2014 provides meaning of the net profit of a company as per its financial statement prepared in accordan
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Rule 2f of the CSR Rules, 2014 provides meaning of the net profit of a company as per its financial statement prepared in accordance with the applicable provisions of the Act, but shall not include the following, namely:—
ii any dividend received from other companies in India, which are covered under and complying with the provisions of section 135 of the Act:
Here I wish to know that any dividend received would be deducted from profit before tax or dividend is to be deducted of only those declaring cos which are covered under Section 135 of the Act. If yes to second option, whether disclosure of reason in Directors Report of not complying CSR liability shall be considered as compliance for the purpose of these rules.
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- Posted By: Rakesh jain 9 year(s) ago
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- Posted By: Gagandeep singh 10 year(s) ago
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Based on MCA circular 8/2014 and CSR rules, the CSR reporting in the directors report will not be applicable to a Company which ha
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Based on MCA circular 8/2014 and CSR rules, the CSR reporting in the directors report will not be applicable to a Company which has FY Jan – Dec 2014. The query is, are these companies whose FY have started prior to Apr 2014 required to spend any CSR budget in their FY 2014? Even if they spend, there is no reporting in their directors report for FY 2014. Query 2 is – Suppose a company is required to spend Rs.100 in a particular FY, was able to spend just Rs.60. The requirement is that Company shall give details of Rs.60 spent and the reason for not spending Rs.40 in the CSR report in the directors report. What will happen to Rs.40 that is unspent? Will it goes back to the business of the Company or needs to be spent in succeeding years. Please clarify with relevant provisions.
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- Posted By: Vijayamahantesh khannur 10 year(s) ago
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