FAQ On the provisions of Corporate Social Responsibility under Companies Act 2013. Here we are providing all Frequently Asked Questions on the provisions of Corporate Social Responsibility under Section 135 of the Companies Act 2013 and Rules thereon. Check Various Queries related to Provisions of Corporate Social Responsibility. now u can scroll down below n check complete details regarding Accounting Rate of Return / Average Rate of Return
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FAQ On the Provisions of Corporate Social Responsibility
The background of these Frequently Asked Questions (FAQs) is to give clarifications regarding treatment of Corporate Social Responsibility (CSR) spending in the books of accounts and disclosures in the Financial Statements. It is important to note that these FAQs are guidance to such interpretation and have to be read in the light of the clarifications issued by the Ministry of Corporate Affairs as per Circular No 21/2014 dated June 18, 2014 that a liberal interpretation has to be taken in the matter. The nature of CSR being a way of conducting business in which such organization recognizes interest of all stakeholders to become socially responsible citizens to integrate economic, environmental and social objectives with the company’s operations and growth needs to be taken as a broad guiding principle behind such CSR activities. Such CSR activities should also be in line with the CSR Policy approved by the Board in line with Schedule VII of the Companies Act, 2013.
These FAQs have been approved by the Corporate Laws & Corporate Governance Committee of the Institute of Chartered Accountants of India. The draft FAQs were uploaded on ICAI Website for public comments. Now, the draft is being finalised and the final document is uploaded on ICAI website
Index
| S.No. | Particulars | Page No. |
| 1. | Frequently Asked Questions (FAQs) on the provisions of Corporate Social Responsibility under Section 135 of the Companies Act 2013 and Rules thereon | 04 |
| 2. | Text of Section 135 of the Companies Act 2013 | 09 |
| 3. | Schedule VII of the Companies Act 2013 | 11 |
| 4. | Annotated Text of CSR Rules under Chapter IX, amended upto January, 2015 | 13 |
| 5. | Summary of Circulars issued by the Ministry of Corporate Affairs related to CSR | 18 |
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