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IT Assesment of CSR Spending

News and Press Release - Dated:- 10-5-2016 - Section 135 (1) of the Companies Act, 2013 mandates every company with a turnover of ₹ 1000 crores or more; or a networth of ₹ 500 crores or more; or a net profit of ₹ 5 crore or more to .....

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because the assessing officer of Income Tax (IT) renders the expenses incurred under CSR invalid. The Finance Act, 2014 clarifies that expenditure on CSR does not form part of business expenditure. While no specific tax exemption has been extended to .....

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