TMI BlogClarifications with regard to provisions of Corporate Social Responsibility under section 135 of the Companies Act, 2013.X X X X Extracts X X X X X X X X Extracts X X X X ..... fications on the provisions under Section 135 of the Companies Act, 2013 (herein after referred as the Act ) and the Companies (Corporate Social Responsibility Policy) Rules, 2014 , as well as activities to be undertaken as per Schedule VII of the Companies Act, 2013 . Clarifications with respect to representations received in the Ministry on Corporate Social Responsibility (herein after referred as ( CSR ) are as under:- (i) The statutory provision and provisions of CSR Rules, 2014, is to ensure that while activities undertaken in pursuance of the CSR policy must be relatable to Schedule VII of the Companies Act 2013 , the entries in the said Schedule VII must be interpreted liberally so as to capture the essence of the su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Trust (as referred in Rule 4(2) of the Companies CSR Rules, 2014) would include Trusts registered under Income Tax Act 1956, for those States where registration of Trust is not mandatory. (viii) Contribution to Corpus of a Trust/ society/ section 8 companies etc. will qualify as CSR expenditure as long as (a) the Trust/ society/ section 8 companies etc. is created exclusively for undertaking CSR activities or (b) where the corpus is created exclusively for a purpose directly relatable to a subject covered in Schedule VII of the Act . 2. This issues with the approval of Competent Authority. Yours faithfully, Sd/- (Seema Rath) Assistant Director (CSR) Phone No. 23389622 Copy to: 1. PSO to Secretary ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... edule VII (i) under promoting health care including preventive health care. 2. Provisions for aids and appliances to the differently- able persons - Request for inclusion Schedule VII (i) under promoting health care including preventive health care. 3. The company contemplates of setting up ARTIIC (Applied Research Training and Innovation Centre) at Nasik. Centre will cover the following aspects as CSR initiatives for the benefit of the predominately rural farming community: Item no. (ii) of Schedule VII under the head of promoting education and vocational skills and rural development . ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r education and awareness can be covered under Schedule VII (ii) promoting education . 5. a) Donations to IIM [A] for conservation of buildings and renovation of classrooms would qualify as promoting education and hence eligible for compliance of companies with Corporate Social Responsibility. b) Donations to IIMA for conservation of buildings and renovation of classrooms would qualify as protection of national heritage, art and culture, including restoration of buildings and sites of historical importance and hence eligible for compliance of companies with CSR. Conservation and renovation of school buildings and classrooms relates to CSR activities ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Research and Studies in the areas specified in Schedule VII . Yes, under the respective areas of items defined in Schedule VII. Otherwise under promoting education . 12. Capacity building of government officials and elected representatives both in the area of PPPs and urban infrastructure. No. 13. Sustainable urban development and urban public transport systems Not covered. 14. Enabling access to, or improving the delivery of, public health systems be considered under the head preventive healthcare or measures for reducing inequalities faced by socially ..... X X X X Extracts X X X X X X X X Extracts X X X X
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