Spending on Corporate Social Responsibility by Companies

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..... Spending on Corporate Social Responsibility by Companies
News and Press Release
Dated:- 19-8-2013

There is no provision for Corporate Social Responsibility (CSR) spending by companies in .....

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..... the present company law i.e. Companies Act, 1956. However, the new Companies Bill, 2012 has a provision of CSR under Clause 135 which states that every company having net worth of Rs. 500 crore or mo .....

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..... re, or turnover of Rs. 1000 crore or more or net profit of rupees five crore or more during any financial year, shall constitute a CSR Committee to recommend its activities for discharging CSR in such .....

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..... a manner that the company would spend at least 2 per cent of its average net profits of the previous three years on CSR activities. Giving this information in written reply to a question in the Lok S .....

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..... abha, Shri Sachin Pilot, Minister of Corporate Affairs, said that the companies will have latitude in designing project based CSR interventions. Reporting requirements etc. will be discussed with all .....

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..... stakeholders and defined once the Bill is enacted, the Minister said.
News - Press release - PIB .....

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