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Guidance Note on CSR (Important Points (Asset arising out of CSR (Control…
Guidance Note on CSR
Important Points
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Distribution of goods/services -
CSR exp to be debited at cost of such goods/services including taxes
Income from CSR Activities -
Treated as liability and
to be incurred in future in addition to 2% limit
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Companies can collaborate with each other on CSR activities if thet can report separately on such activities
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CSR exp in the nature of Sec 30-36 of IT Act, 1961
allowed as deduction
Legal Formalities
Sec 135 of Companies Act, 2013
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Net Worth >= 500 cr
PUSC + Reserves created out of profits, securities premium
deducting all acc losses, but excluding revaluation reserves and amalgamation reserves
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CSR Exp
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Contribution to regd trusts, NGOs etc
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