Corporate social responsibility in Companies ACT 2013Vishwas Swamy
The document outlines the Corporate Social Responsibility (CSR) requirements for companies in India according to Chapter IX, Section 135 of the Companies Act of 2013. It defines CSR as how companies integrate social and environmental concerns into their operations and interactions with stakeholders. It requires companies meeting certain net worth, turnover, or profit thresholds to spend 2% of their average net profits of the previous three years on CSR activities. Eligible companies must form a CSR committee and develop a CSR policy specifying planned activities. The policy and an annual report detailing CSR efforts and expenditures must be disclosed publicly.
The document discusses the key aspects of corporate social responsibility (CSR) requirements for companies according to the Companies Act 2013 in India. It defines CSR and outlines the applicability to companies with a net worth of 500 crore rupees or more, turnover of 1000 crore rupees or more, or net profit of 5 crore rupees or more. It specifies that applicable companies must spend 2% of their average net profits of the previous three years on CSR activities related to issues like poverty, education, healthcare, environment and more.
The document summarizes key aspects of the new CSR legislation in India as outlined in the Companies Act of 2013. It discusses that companies meeting certain net worth, turnover, or profit criteria must form a CSR committee comprising at least 3 directors including one independent director. The committee is responsible for recommending a CSR policy and budget. Companies must spend at least 2% of average net profits of the past three years on CSR activities listed in Schedule VII, such as poverty alleviation, education, healthcare, environment and more. Failure to do so requires board explanation.
Corporate Social Responsibility is a concept which suggests that commercial corporations must fulfill their duty of providing care to the society. For more information on CSR please visit: http://www.thetrendisblue.com/article.cms/corporate-social-responsibility-and...
Follow The Trend Is Blue on Twitter: http://twitter.com/#!/thetrendisblue
Like The Trend Is Blue on Facebook: http://www.facebook.com/TheTrendIsBlue
Connect The Trend Is Blue on Linkedin: http://www.linkedin.com/company/the-trend-is-blue-ltd
Corporate Social Responsibility - Section 135 of Companies Act, 2013Sahil Goel
Corporate social responsibility (CSR) refers to companies behaving ethically and contributing to economic development while improving quality of life, according to Lord Holme and Richard Watts. The document outlines the steps companies must take to comply with Section 135 of the Indian Companies Act, including constituting a CSR committee and formulating a CSR policy. Applicable companies must spend at least 2% of their average net profits over the past three years on CSR activities listed in Schedule VII, such as contributions to cleanliness funds. While CSR requires management efforts, it ultimately benefits society and the environment.
The Companies Bill 2012 was passed in the Lok Sabha on 18 December 2012. The bill seeks to consolidate and improve corporate governance and further strengthen the regulations for the corporates. One of the noticeable features of the bill is introduction of the most debated concept of Corporate Social Responsibility (CSR). The attached presentation by Ms Gayatri Subramanian, Program Coordinator - CSR & Corporate Governance, Indian Institute of Corporate Affairs, New Delhi, presents a clear picture on the new CSR Bill.
A company must register any charges on its assets or property with the Registrar of Companies (ROC) within 30 days of creating the charge. This includes charges on tangible or intangible assets located in or outside of India. The company must file Form CHG-1 or CHG-9 with the ROC depending on the type of charge. The ROC may allow registration of charges up to 300 days after creation with a condonation. Upon registration, the ROC will provide a certificate. The company must notify the ROC within 30 days of a charge being fully paid or satisfied. It must also notify the ROC of any receiver or manager appointments over charged assets. The company is required to maintain a register of charges in Form CH
This document discusses corporate social responsibility (CSR) in multinational companies, using McDonald's as an example. It defines CSR and explains that CSR aims to contribute to societal goals through philanthropic and ethical practices. It outlines the types of CSR, main concerns, advantages and disadvantages for multinational companies. McDonald's CSR is described as focusing on food safety, quality, ethical sourcing and environmental protection. The conclusion emphasizes that CSR has become important for businesses and can provide ethical, social and business benefits for multinational companies while addressing societal expectations.
Corporate social responsibility in Companies ACT 2013Vishwas Swamy
The document outlines the Corporate Social Responsibility (CSR) requirements for companies in India according to Chapter IX, Section 135 of the Companies Act of 2013. It defines CSR as how companies integrate social and environmental concerns into their operations and interactions with stakeholders. It requires companies meeting certain net worth, turnover, or profit thresholds to spend 2% of their average net profits of the previous three years on CSR activities. Eligible companies must form a CSR committee and develop a CSR policy specifying planned activities. The policy and an annual report detailing CSR efforts and expenditures must be disclosed publicly.
The document discusses the key aspects of corporate social responsibility (CSR) requirements for companies according to the Companies Act 2013 in India. It defines CSR and outlines the applicability to companies with a net worth of 500 crore rupees or more, turnover of 1000 crore rupees or more, or net profit of 5 crore rupees or more. It specifies that applicable companies must spend 2% of their average net profits of the previous three years on CSR activities related to issues like poverty, education, healthcare, environment and more.
The document summarizes key aspects of the new CSR legislation in India as outlined in the Companies Act of 2013. It discusses that companies meeting certain net worth, turnover, or profit criteria must form a CSR committee comprising at least 3 directors including one independent director. The committee is responsible for recommending a CSR policy and budget. Companies must spend at least 2% of average net profits of the past three years on CSR activities listed in Schedule VII, such as poverty alleviation, education, healthcare, environment and more. Failure to do so requires board explanation.
Corporate Social Responsibility is a concept which suggests that commercial corporations must fulfill their duty of providing care to the society. For more information on CSR please visit: http://www.thetrendisblue.com/article.cms/corporate-social-responsibility-and...
Follow The Trend Is Blue on Twitter: http://twitter.com/#!/thetrendisblue
Like The Trend Is Blue on Facebook: http://www.facebook.com/TheTrendIsBlue
Connect The Trend Is Blue on Linkedin: http://www.linkedin.com/company/the-trend-is-blue-ltd
Corporate Social Responsibility - Section 135 of Companies Act, 2013Sahil Goel
Corporate social responsibility (CSR) refers to companies behaving ethically and contributing to economic development while improving quality of life, according to Lord Holme and Richard Watts. The document outlines the steps companies must take to comply with Section 135 of the Indian Companies Act, including constituting a CSR committee and formulating a CSR policy. Applicable companies must spend at least 2% of their average net profits over the past three years on CSR activities listed in Schedule VII, such as contributions to cleanliness funds. While CSR requires management efforts, it ultimately benefits society and the environment.
The Companies Bill 2012 was passed in the Lok Sabha on 18 December 2012. The bill seeks to consolidate and improve corporate governance and further strengthen the regulations for the corporates. One of the noticeable features of the bill is introduction of the most debated concept of Corporate Social Responsibility (CSR). The attached presentation by Ms Gayatri Subramanian, Program Coordinator - CSR & Corporate Governance, Indian Institute of Corporate Affairs, New Delhi, presents a clear picture on the new CSR Bill.
A company must register any charges on its assets or property with the Registrar of Companies (ROC) within 30 days of creating the charge. This includes charges on tangible or intangible assets located in or outside of India. The company must file Form CHG-1 or CHG-9 with the ROC depending on the type of charge. The ROC may allow registration of charges up to 300 days after creation with a condonation. Upon registration, the ROC will provide a certificate. The company must notify the ROC within 30 days of a charge being fully paid or satisfied. It must also notify the ROC of any receiver or manager appointments over charged assets. The company is required to maintain a register of charges in Form CH
This document discusses corporate social responsibility (CSR) in multinational companies, using McDonald's as an example. It defines CSR and explains that CSR aims to contribute to societal goals through philanthropic and ethical practices. It outlines the types of CSR, main concerns, advantages and disadvantages for multinational companies. McDonald's CSR is described as focusing on food safety, quality, ethical sourcing and environmental protection. The conclusion emphasizes that CSR has become important for businesses and can provide ethical, social and business benefits for multinational companies while addressing societal expectations.
Corporate social responsibility (CSR) involves businesses delivering economic, social and environmental benefits to all stakeholders. CSR activities typically go beyond legal compliance and include areas like corporate governance, human rights, community development, and working conditions. While many companies view CSR as philanthropy, it is important for businesses to understand stakeholders' perspectives on their CSR initiatives through research. Implementing CSR can benefit companies through improved public image, employee engagement, and attracting investors.
This document discusses CSR trends and challenges in India. It notes that inequity and poverty drive CSR initiatives in India. Business faces challenges like inadequate infrastructure and reactive rather than proactive CSR approaches. CSR implementation is also impacted by corruption and varying governance structures. There are differences in CSR approaches between large multinational corporations, small and medium enterprises, public and private sector companies, and different industry sectors. Emerging trends include regular CSR discussions, embedding CSR in organizations, demand for measurement and reporting, and partnerships between business, government and civil society. The conclusion is that opportunities exist for businesses to help drive CSR to the next level in India.
Most people forming a company undervalue the importance of a company secretary.
Find out here about the role and tasks that are carried out by a company secretary.
This document discusses trends and opportunities in corporate social responsibility (CSR). It begins with an overview of increasing CSR expenditures in India from 2014-2019. Next, it outlines five CSR trends for 2020 according to Forbes, including addressing fake news, achieving carbon neutrality, supporting employees, pursuing long-term purpose, and exploring emerging issues. It then characterizes CSR as a strategic business tool that can satisfy diverse stakeholders. The document also notes challenges for traditional CSR due to COVID-19, such as reduced budgets and priorities shifting to pandemic relief. It concludes with instructions for accessing case studies of major CSR initiatives on the Indian government's CSR portal.
This document discusses the winding up process for companies in Pakistan. It outlines three types of winding up: by court, voluntary winding up, and subject to supervision of court. Winding up by court can occur if statutory meetings or annual general meetings are not held, practical work is not started on time, or minimum director requirements are not met. Voluntary winding up involves either members or creditors passing a special resolution for winding up. Liquidators are then appointed to sell assets and call a final meeting. Winding up subject to court supervision occurs when shareholders bring a case to court due to doubts about directors.
A light explanation of Corporate Governance for those who want to have a quick understanding of the concept. This presentation was designed for a small team of mixed background individuals and enlightened them with the insight on the concept of Governance.
The document discusses the evolution of corporate social responsibility (CSR) globally and in India over several phases from the 19th century to present. It provides definitions of CSR and outlines key events and developments in different decades that helped define CSR. In India specifically, CSR evolved from early philanthropic activities to becoming a strategic business practice. The document also examines CSR practices of Infosys company and concludes that CSR has both an ethical and business component in India.
Ppt on incorporation of company as per new company act, 2013 (updated)Sandeep Kumar
The document outlines the key steps and requirements for incorporating a company under the Companies Act of 2013 in India. It discusses reserving a company name, drafting the memorandum and articles of association which define the company's constitution and internal management, applying for incorporation and the documents required, and receiving a certificate of incorporation. It also summarizes some of the main contents of a memorandum and articles of association such as membership, rights of members, and limitations.
Committees on corporate governance - corporate management - Strategic Managem...manumelwin
The document discusses several committees on corporate governance in the UK and India, including the Hampel Committee, Cadbury Committee, Greenbury Committee, Blue Ribbon Committee, Kumar Manglam Birla Committee, Naresh Chandra Committee, and Narayana Murthy Committee. It provides brief descriptions of each committee's purpose and focus areas related to improving corporate governance standards and practices.
The Companies Act 2013 has introduced significant changes in the composition of the board of directors of a company. This White Paper contains the description of some provisions related to Independent Directors which have been modified in Companies Act 2013.
We at Shah Consultancy Services provide Consultancy in the ares of income tax, service tax, sales tax, Trust, Wills, family arrangements, corporate accounting, restructuring, Company Law and Secretarial matters, Tax planning and many more service
This document discusses corporate social responsibility provisions in the new Companies Act 2013 in India. It provides an introduction to CSR and the history of the Companies Bill. The key CSR provisions in the new Act require companies meeting certain net worth, turnover or profit criteria to form a CSR committee of at least 3 directors. The committee is responsible for formulating a CSR policy and monitoring CSR activities, which must include initiatives related to poverty reduction, education, environment and other social issues. Companies are also required to spend 2% of their average net profit from the past three years on CSR activities focused on local communities. The goal of these CSR requirements is to promote goodwill for companies and ultimately support the growth of their businesses.
This brief ppt is based on the provisions of sec 135 of Indian companies act 2013 as applicable towards CSR Corporate Social Responsibility on Companies in India.
This ppt. includes brief about the Memorandum of Association (MOA) and Clauses of Regulatory Framework of Companies :-
1.Introduction, meaning and importance of MOA
2.Purpose of MOA and Contents
3 Clauses of MOA well defined and tuned
This document discusses corporate social responsibility (CSR) in India. It provides definitions of CSR, outlines the history of CSR regulations in India, and summarizes key aspects of the CSR requirements under the Companies Act of 2013 such as the constitution of CSR committees, development of CSR policies, specification of approved CSR activities, and advantages and disadvantages of CSR. The types of projects eligible for CSR spending are also defined. In conclusion, the document states that CSR involves sustainability across environment, social and business dimensions, and that the law and its implementation are now mandated in India.
Format of moa new companies act 2013 ( moa as per companies act 2013 )mystartupvakil.com
Format of Memorandum of Association as per New Companies Act 2013. For more please visit my blog : http://newcompaniesact2013.blogspot.in/
MOA as per companies act 2013
Study tip 7 Corporate Social Responsibility by Dipti DhakulDipti Dhakul
COMPANY SECRETARY: COMPANY LAW
Corporate Social Responsibility
The functions of CSR Committee
• To formulate and recommend to the Board, a CSR Policy which would indicate the activities to be undertaken ïn areas or subject, specified in Schedule VII of the Act.
• To recommend the amount of the expenditure to be incurred on the activities undertaken in pursuance of the CSR policy.
• To institute a transparent monitoring mechanism for implementation of the CSR projects or programs or activities undertaken by the company.
• To monitor the CSR policy of the company time to time.
India became the first country to mandate spend on CSR activities through a statutory provision after the President of India gave assent to the Companies Bill, 2013,.
The Provision of Corporate Social Responsibility (CSR) are effective from financial year 2014-15.
As per Section 135 of the Act, every company with a specified net worth or turnover or net profit are required to mandatorily spend 2 percent of its average net profit towards specified CSR activities.
Though many corporate houses in India have been doing CSR activities voluntarily, the new CSR provisions put formal and greater responsibility on companies to set out clear framework and process to ensure strict compliance.
The Board of Directors of the companies are responsible to ensure that the company spends the mandatory CSR spend on specified CSR activities in accordance with the CSR policy of the company and disclose the CSR policy and CSR activities of the company as specified in the provisions.
Each qualifying company should form a CSR committee which will formulate the CSR policy of the company and effectively monitor the CSR activities of the company.
The Ministry of Corporate Affairs (MCA) has issued draft rules on CSR for public discussion. The said draft CSR rules lay down the framework and guidance on the manner in which every eligible company is expected to undertake CSR initiatives.
Corporate social responsibility (CSR) involves businesses delivering economic, social and environmental benefits to all stakeholders. CSR activities typically go beyond legal compliance and include areas like corporate governance, human rights, community development, and working conditions. While many companies view CSR as philanthropy, it is important for businesses to understand stakeholders' perspectives on their CSR initiatives through research. Implementing CSR can benefit companies through improved public image, employee engagement, and attracting investors.
This document discusses CSR trends and challenges in India. It notes that inequity and poverty drive CSR initiatives in India. Business faces challenges like inadequate infrastructure and reactive rather than proactive CSR approaches. CSR implementation is also impacted by corruption and varying governance structures. There are differences in CSR approaches between large multinational corporations, small and medium enterprises, public and private sector companies, and different industry sectors. Emerging trends include regular CSR discussions, embedding CSR in organizations, demand for measurement and reporting, and partnerships between business, government and civil society. The conclusion is that opportunities exist for businesses to help drive CSR to the next level in India.
Most people forming a company undervalue the importance of a company secretary.
Find out here about the role and tasks that are carried out by a company secretary.
This document discusses trends and opportunities in corporate social responsibility (CSR). It begins with an overview of increasing CSR expenditures in India from 2014-2019. Next, it outlines five CSR trends for 2020 according to Forbes, including addressing fake news, achieving carbon neutrality, supporting employees, pursuing long-term purpose, and exploring emerging issues. It then characterizes CSR as a strategic business tool that can satisfy diverse stakeholders. The document also notes challenges for traditional CSR due to COVID-19, such as reduced budgets and priorities shifting to pandemic relief. It concludes with instructions for accessing case studies of major CSR initiatives on the Indian government's CSR portal.
This document discusses the winding up process for companies in Pakistan. It outlines three types of winding up: by court, voluntary winding up, and subject to supervision of court. Winding up by court can occur if statutory meetings or annual general meetings are not held, practical work is not started on time, or minimum director requirements are not met. Voluntary winding up involves either members or creditors passing a special resolution for winding up. Liquidators are then appointed to sell assets and call a final meeting. Winding up subject to court supervision occurs when shareholders bring a case to court due to doubts about directors.
A light explanation of Corporate Governance for those who want to have a quick understanding of the concept. This presentation was designed for a small team of mixed background individuals and enlightened them with the insight on the concept of Governance.
The document discusses the evolution of corporate social responsibility (CSR) globally and in India over several phases from the 19th century to present. It provides definitions of CSR and outlines key events and developments in different decades that helped define CSR. In India specifically, CSR evolved from early philanthropic activities to becoming a strategic business practice. The document also examines CSR practices of Infosys company and concludes that CSR has both an ethical and business component in India.
Ppt on incorporation of company as per new company act, 2013 (updated)Sandeep Kumar
The document outlines the key steps and requirements for incorporating a company under the Companies Act of 2013 in India. It discusses reserving a company name, drafting the memorandum and articles of association which define the company's constitution and internal management, applying for incorporation and the documents required, and receiving a certificate of incorporation. It also summarizes some of the main contents of a memorandum and articles of association such as membership, rights of members, and limitations.
Committees on corporate governance - corporate management - Strategic Managem...manumelwin
The document discusses several committees on corporate governance in the UK and India, including the Hampel Committee, Cadbury Committee, Greenbury Committee, Blue Ribbon Committee, Kumar Manglam Birla Committee, Naresh Chandra Committee, and Narayana Murthy Committee. It provides brief descriptions of each committee's purpose and focus areas related to improving corporate governance standards and practices.
The Companies Act 2013 has introduced significant changes in the composition of the board of directors of a company. This White Paper contains the description of some provisions related to Independent Directors which have been modified in Companies Act 2013.
We at Shah Consultancy Services provide Consultancy in the ares of income tax, service tax, sales tax, Trust, Wills, family arrangements, corporate accounting, restructuring, Company Law and Secretarial matters, Tax planning and many more service
This document discusses corporate social responsibility provisions in the new Companies Act 2013 in India. It provides an introduction to CSR and the history of the Companies Bill. The key CSR provisions in the new Act require companies meeting certain net worth, turnover or profit criteria to form a CSR committee of at least 3 directors. The committee is responsible for formulating a CSR policy and monitoring CSR activities, which must include initiatives related to poverty reduction, education, environment and other social issues. Companies are also required to spend 2% of their average net profit from the past three years on CSR activities focused on local communities. The goal of these CSR requirements is to promote goodwill for companies and ultimately support the growth of their businesses.
This brief ppt is based on the provisions of sec 135 of Indian companies act 2013 as applicable towards CSR Corporate Social Responsibility on Companies in India.
This ppt. includes brief about the Memorandum of Association (MOA) and Clauses of Regulatory Framework of Companies :-
1.Introduction, meaning and importance of MOA
2.Purpose of MOA and Contents
3 Clauses of MOA well defined and tuned
This document discusses corporate social responsibility (CSR) in India. It provides definitions of CSR, outlines the history of CSR regulations in India, and summarizes key aspects of the CSR requirements under the Companies Act of 2013 such as the constitution of CSR committees, development of CSR policies, specification of approved CSR activities, and advantages and disadvantages of CSR. The types of projects eligible for CSR spending are also defined. In conclusion, the document states that CSR involves sustainability across environment, social and business dimensions, and that the law and its implementation are now mandated in India.
Format of moa new companies act 2013 ( moa as per companies act 2013 )mystartupvakil.com
Format of Memorandum of Association as per New Companies Act 2013. For more please visit my blog : http://newcompaniesact2013.blogspot.in/
MOA as per companies act 2013
Study tip 7 Corporate Social Responsibility by Dipti DhakulDipti Dhakul
COMPANY SECRETARY: COMPANY LAW
Corporate Social Responsibility
The functions of CSR Committee
• To formulate and recommend to the Board, a CSR Policy which would indicate the activities to be undertaken ïn areas or subject, specified in Schedule VII of the Act.
• To recommend the amount of the expenditure to be incurred on the activities undertaken in pursuance of the CSR policy.
• To institute a transparent monitoring mechanism for implementation of the CSR projects or programs or activities undertaken by the company.
• To monitor the CSR policy of the company time to time.
India became the first country to mandate spend on CSR activities through a statutory provision after the President of India gave assent to the Companies Bill, 2013,.
The Provision of Corporate Social Responsibility (CSR) are effective from financial year 2014-15.
As per Section 135 of the Act, every company with a specified net worth or turnover or net profit are required to mandatorily spend 2 percent of its average net profit towards specified CSR activities.
Though many corporate houses in India have been doing CSR activities voluntarily, the new CSR provisions put formal and greater responsibility on companies to set out clear framework and process to ensure strict compliance.
The Board of Directors of the companies are responsible to ensure that the company spends the mandatory CSR spend on specified CSR activities in accordance with the CSR policy of the company and disclose the CSR policy and CSR activities of the company as specified in the provisions.
Each qualifying company should form a CSR committee which will formulate the CSR policy of the company and effectively monitor the CSR activities of the company.
The Ministry of Corporate Affairs (MCA) has issued draft rules on CSR for public discussion. The said draft CSR rules lay down the framework and guidance on the manner in which every eligible company is expected to undertake CSR initiatives.
The document discusses corporate social responsibility (CSR) in India as mandated by the Companies Act of 2013. Some key points:
- India was the first country to mandate that companies spend 2% of their net profits on CSR activities. This applies to companies with over 500 crore net worth or 1000 crore turnover.
- Eligible CSR activities include eradicating hunger, promoting education, gender equality, and environmental sustainability.
- Companies must form a CSR committee and develop a CSR policy. They must report on CSR initiatives annually.
- The Act aims to promote greater transparency around companies' social and environmental impacts. A minimum of 6000 companies will need to undertake CSR projects to comply.
Presentation prepared based on the Section 135 of the Companies Act, 2013 , Companies (Corporate Social Responsibility Policy) Rules, 2014 and Revised Schedule VII of the CA 2013.
CORPORATE SOCIAL RESPONSIBILITY_fda0741469d29a7ff863ec5a3f1b9072.pptxitech2017
The document outlines corporate social responsibility (CSR) requirements for companies in India according to the Companies Act of 2013. It defines CSR as activities that benefit society and the environment, such as education programs, environmental conservation, and healthcare. The Act requires companies meeting certain criteria to establish a CSR committee and policy and spend at least 2% of their net profits on qualifying CSR activities. It provides guidance on governance, eligible activities, spending and reporting requirements to ensure companies conduct ethical business practices and contribute to social welfare.
Getting Ready For Upcoming Act on CSR in Indiaanuptiwari
The Companies Bill 2012 has thrown up several opportunities and challenges. This analysis promotes understanding on the provisions and recommends next steps.
This document outlines the regulatory and policy framework around corporate social responsibility (CSR) in India, including provisions from the Companies Act 2013. It discusses the CSR requirements and guidelines from regulatory bodies like SEBI and the Ministry of Corporate Affairs. Key highlights include the qualifying criteria for companies to have a CSR policy, composition and role of the CSR committee, areas of focus for CSR activities, spending requirements, and implementation and reporting mechanisms.
The document summarizes the key provisions around corporate social responsibility (CSR) in the Companies Act of 2013 in India. It outlines that companies meeting certain profit or turnover thresholds will need to constitute a CSR committee and spend at least 2% of their average net profits on qualifying social projects. It also analyzes some ambiguities and issues around political contributions qualifying as CSR, tax benefits for CSR spending, and potential loopholes like profit shifting to avoid the requirements. In conclusion, it argues that CSR should no longer be seen as just philanthropy but as a real responsibility of companies.
Article on Corporate Social Responsibility - an insightFCS BHAVIK GALA
This document provides an overview of Corporate Social Responsibility (CSR) in India. It discusses how CSR has evolved from traditional philanthropic activities to become more strategic and linked to business. The Companies Act of 2013 introduced mandatory CSR requirements for large companies in India. It outlines the activities considered eligible for CSR spending under Schedule VII of the Act, such as education, healthcare, environment, and more. The document also discusses the applicability of CSR requirements to companies, constitution of CSR committees, development of CSR policies and programs, and relevant tax benefits.
Business & Industry - CSR - Industrial Policy - CSR Committee - Resposibilities of the Committee - Format of Reporting - CSR Policy - List of CSR Activities
Corporate Social Responsibility (CSR) Policy - DMI Financedmifinance
1. This document outlines the Corporate Social Responsibility (CSR) Policy of DMI Finance Private Limited as required under the Companies Act 2013. It details the background and applicability of CSR requirements, defines key terms, and outlines the roles of the Board and CSR Committee.
2. The policy specifies the CSR activities to be undertaken related to education, healthcare, environment and more. It also addresses CSR expenditure requirements, reporting and display of CSR activities.
3. An annexure provides the format for the annual CSR report to be included in the Board's report with details of spending and reasons for any shortfall.
The document discusses guidelines around corporate social responsibility (CSR) expenditures under the Companies Act 2013 in India. It addresses whether CSR spending qualifies as a capital or revenue expenditure, how it should be reported in financial statements, treatment of excess/shortfall in spending, and issues around calculating net profit for determining the required 2% CSR spend amount. It provides examples of qualifying CSR activities and clarifies that contributions to charitable organizations can qualify as CSR spending.
Why building sustainable businesses are important for the 21st Century Corporation. The rationale for India's 2% CSR law, and why it makes sense.
A journey from global imperatives to national law, and the road ahead for creating sustainable businesses which include all stakeholders in creating value across people, plant and profits.
The document discusses the key aspects of corporate social responsibility (CSR) as outlined in the Companies Act 2013 in India. It defines CSR and explains that companies meeting certain profit, turnover or net worth criteria must spend 2% of their net profits on CSR activities related to issues like poverty, education, healthcare, environment and more. It provides details on CSR committees, eligible CSR activities and programs, spending requirements, and reporting formats. The legal obligations associated with CSR spending and a list of eligible CSR activities are also summarized.
CSR Report in the field of education and vocational training of few companiesRishi Sachan
This document discusses ITC Limited's corporate social responsibility (CSR) activities focused on enhancing vocational skills and education. It provides details of ITC's CSR governance structure and policy, which aims to generate sustainable livelihoods and promote social and environmental welfare. A key CSR program discussed is ITC e-Choupal, which establishes internet kiosks to provide farmers information to boost productivity and market access, benefiting millions of farmers.
Similar to COMPANY ( CORPORATE SOCIAL RESPONSIBILITY POLICY ) RULES 2014 (20)
EXTRACT OF THE PRESENTATION - FOR THE CASE LAWS COVERED IN THE SESSION & SEMINARS, FEEL FREE TO EMAIL ME.
SPECIAL THANKS TO CS SHAILASHRI BHASKAR MA'AM, CS PAVAN KUMAR VIJAY SIR FOR THEIR GUIDANCE.
After completing 10+2, commerce students have three career options - degree courses like B.Com, LLB which provide only academic knowledge; professional courses like CA, CS, CWA which provide both academic and in-depth expertise knowledge through intensive training; and professional degree courses like BBA, BBE, BBM, BFIA. While a degree course is not sufficient on its own in today's environment, becoming a Company Secretary (CS) provides expertise in areas like corporate compliance, governance, mergers and acquisitions, taxation, and valuations. The CS qualification involves foundation, executive and professional levels and covers subjects like company law, taxation, corporate and management accounting, and securities law. After qualifying as a CS
This document discusses e-commerce and provides information on its categories, segments, history and growth in India. It describes e-commerce as a business model that enables firms to conduct business over electronic networks via the internet. Some key points include:
- E-commerce categories include B2B, B2C, mobile commerce, e-learning and e-government. Popular segments are online travelling, e-tailing, financial services and classifieds.
- Major Indian e-commerce companies and their launch years are listed, showing rapid growth and multiplication of players since 2000.
- E-commerce provides benefits to organizations like global reach and cost reductions, and benefits customers through more products/services, cheaper options,
Section 230 to 233 of Companies Act, 2013
Procedure for Scheme of Compromise, Amalgamation and Arrangement.
Also it covers the newly introduced Sec. 233 of Companies Act, 2013 for FAST TRACK MERGER
The document discusses proposed amendments to securities laws in India through the Securities Laws (Amendment) Bill of 2014. It notes that small investors had their savings cheated through illegal chit fund schemes that existing regulations did not adequately protect against. The bill aims to empower the Securities and Exchange Board of India (SEBI) to regulate any pooling of funds over 100 crore rupees not overseen by another regulator, recover monetary penalties, arrest individuals not complying with its orders, request information from authorities including banks, establish special courts for offenses, and conduct search and seizure operations with court permission. The bill also seeks to define "pooling of funds" and clarify the scope of collective investment schemes.
CLAUSE 35B & 49 OF LISTING AGREEMENT OF SEBI ANAND KANKANI
SEBI HAS AMENDED THE CLAUSE 35B & 49 OF THE LISTING AGREEMENT FOR THE LISTED COMPANIES.
CLAUSE 35B HAS MANDATED THE E-VOTING FOR PASSING THE RESOLUTION
CLAUSE 49 DEALS WITH THE CORPORATE GOVERNANCE.
REVISED CORPORATE GOVERNANCE NORMS RECOMMENDED BY SEBI IN ITS BOARD MEETING HELD ON 13th FEB., 2014.
THESE NORMS WOULD BE APPLICABLE FROM 1st OCT. 2014
This document outlines the various regulators in India's financial system. It describes the roles of the Comptroller & Auditor General of India, which audits government entities and reports to Parliament. For banks, the key regulator is the Reserve Bank of India. The banking structure includes nationalized banks, non-nationalized banks, cooperative banks, and rural banks. Companies are regulated by the Ministry of Corporate Affairs and registrars of companies. Listed companies are additionally regulated by the Securities Exchange Board of India and stock exchanges. Other regulators mentioned include credit rating agencies, debenture trustees, depositories, investment consultants, investment bankers, investor associations, mutual funds, portfolio managers, stock brokers, stock exchanges, and venture capital funds.
Service tax voluntary compliance encouragement scheme, 2013ANAND KANKANI
This document provides details about the Service Tax Voluntary Compliance Encouragement Scheme introduced in India in 2013. Key points:
- The scheme allows service providers who have not filed returns or paid taxes since 2007 to disclose true tax liabilities and pay owed taxes to avoid penalties.
- Eligible taxpayers can pay disclosed taxes in installments by 2014 to be exempt from interest and penalties if taxes are otherwise paid on time.
- The goal is to encourage voluntary compliance and collect unpaid taxes from the many service providers who are not currently filing returns.
After completing 10+2, commerce students have three career options - degree courses like B.Com, LLB which provide only academic knowledge; professional courses like CA, CS, CWA which provide both academic and in-depth expertise knowledge through intensive training; and professional degree courses like BBA, BBE, BBM, BFIA. Simply having academic knowledge is not sufficient in today's era - one needs skills that can become their unique selling point. Company Secretaries provide expertise in areas like finance, taxation, compliance, corporate governance and more through their professional training and certification. After qualifying Foundation, Executive and Professional levels, CS professionals can pursue careers in employment, practice, consultancy roles in fields like merchant banking, project
Industrial Tech SW: Category Renewal and CreationChristian Dahlen
Every industrial revolution has created a new set of categories and a new set of players.
Multiple new technologies have emerged, but Samsara and C3.ai are only two companies which have gone public so far.
Manufacturing startups constitute the largest pipeline share of unicorns and IPO candidates in the SF Bay Area, and software startups dominate in Germany.
How to Implement a Real Estate CRM SoftwareSalesTown
To implement a CRM for real estate, set clear goals, choose a CRM with key real estate features, and customize it to your needs. Migrate your data, train your team, and use automation to save time. Monitor performance, ensure data security, and use the CRM to enhance marketing. Regularly check its effectiveness to improve your business.
How to Implement a Strategy: Transform Your Strategy with BSC Designer's Comp...Aleksey Savkin
The Strategy Implementation System offers a structured approach to translating stakeholder needs into actionable strategies using high-level and low-level scorecards. It involves stakeholder analysis, strategy decomposition, adoption of strategic frameworks like Balanced Scorecard or OKR, and alignment of goals, initiatives, and KPIs.
Key Components:
- Stakeholder Analysis
- Strategy Decomposition
- Adoption of Business Frameworks
- Goal Setting
- Initiatives and Action Plans
- KPIs and Performance Metrics
- Learning and Adaptation
- Alignment and Cascading of Scorecards
Benefits:
- Systematic strategy formulation and execution.
- Framework flexibility and automation.
- Enhanced alignment and strategic focus across the organization.
B2B payments are rapidly changing. Find out the 5 key questions you need to be asking yourself to be sure you are mastering B2B payments today. Learn more at www.BlueSnap.com.
Navigating the world of forex trading can be challenging, especially for beginners. To help you make an informed decision, we have comprehensively compared the best forex brokers in India for 2024. This article, reviewed by Top Forex Brokers Review, will cover featured award winners, the best forex brokers, featured offers, the best copy trading platforms, the best forex brokers for beginners, the best MetaTrader brokers, and recently updated reviews. We will focus on FP Markets, Black Bull, EightCap, IC Markets, and Octa.
Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...Neil Horowitz
On episode 272 of the Digital and Social Media Sports Podcast, Neil chatted with Brian Fitzsimmons, Director of Licensing and Business Development for Barstool Sports.
What follows is a collection of snippets from the podcast. To hear the full interview and more, check out the podcast on all podcast platforms and at www.dsmsports.net
3 Simple Steps To Buy Verified Payoneer Account In 2024SEOSMMEARTH
Buy Verified Payoneer Account: Quick and Secure Way to Receive Payments
Buy Verified Payoneer Account With 100% secure documents, [ USA, UK, CA ]. Are you looking for a reliable and safe way to receive payments online? Then you need buy verified Payoneer account ! Payoneer is a global payment platform that allows businesses and individuals to send and receive money in over 200 countries.
If You Want To More Information just Contact Now:
Skype: SEOSMMEARTH
Telegram: @seosmmearth
Gmail: seosmmearth@gmail.com
Structural Design Process: Step-by-Step Guide for BuildingsChandresh Chudasama
The structural design process is explained: Follow our step-by-step guide to understand building design intricacies and ensure structural integrity. Learn how to build wonderful buildings with the help of our detailed information. Learn how to create structures with durability and reliability and also gain insights on ways of managing structures.
HOW TO START UP A COMPANY A STEP-BY-STEP GUIDE.pdf46adnanshahzad
How to Start Up a Company: A Step-by-Step Guide Starting a company is an exciting adventure that combines creativity, strategy, and hard work. It can seem overwhelming at first, but with the right guidance, anyone can transform a great idea into a successful business. Let's dive into how to start up a company, from the initial spark of an idea to securing funding and launching your startup.
Introduction
Have you ever dreamed of turning your innovative idea into a thriving business? Starting a company involves numerous steps and decisions, but don't worry—we're here to help. Whether you're exploring how to start a startup company or wondering how to start up a small business, this guide will walk you through the process, step by step.
Event Report - SAP Sapphire 2024 Orlando - lots of innovation and old challengesHolger Mueller
Holger Mueller of Constellation Research shares his key takeaways from SAP's Sapphire confernece, held in Orlando, June 3rd till 5th 2024, in the Orange Convention Center.
Storytelling is an incredibly valuable tool to share data and information. To get the most impact from stories there are a number of key ingredients. These are based on science and human nature. Using these elements in a story you can deliver information impactfully, ensure action and drive change.
2. MINISTRY OF CORPORATE AFFAIRS, NOTIFIED
Sec. 135 & SCHEDULE VII OF THE COMPANIES
ACT, 2013
• Sec. 135 of the Companies Act, 2013
• Applicability :
Every Company in India,
if one of the following condition is met–
Net Worth of ₹ 500 Crore or more
Turnover of ₹ 1,000 Crore or more
Net Profit of ₹ 5 Crore or more
at any time during the financial year.
3. Sec. 135 OF THE COMPANIES ACT,
2013 shall constitute a
• Companies falling under this section
CORPORATE SOCIAL RESPONSIBILITY COMMITTEE.
• The committee shall consist of 3 or more directors, out of
which at least 1 shall be independent.
• CSR committee would be responsible to formulate CSR
Policy, recommend the CSR activities as specified in Schedule
VII & monitor the CSR expenditure.
• Board would be mandatorily required to disclose its CSR
Policy in its report and on the company’s website.
4. QUANTUM OF PROFIT TO BE SPENT
ON C.S.R. ACTIVITIES
• The CSR contribution would be at least 2% of the average net
profit made during the immediately preceding financial years.
• NET PROFIT
= Net profit as per the financial statements of the company as
per section 198.
BUT
Excludes:
1. Profits generated outside India through overseas
branches & subsidiaries.
2. Any dividend received from other companies in India
that are complying the CSR provision u/s 135
5. COMPANIES (CORPORATE SOCIAL
RESPONSIBILITY POLICY) RULES,
2014
• Once a company is covered under the CSR provisions as per sub
section (1) of Section 135, the company will have to comply
with the rules for 3 consecutive financial year, even if in the
subsequent years these provisions do not apply to them.
• CSR activities must be undertaken in India only.
• Group companies or associates or even two or more
independent companies can collectively set up a registered
trust /society / separate company to undertake the CSR
activities.
However reporting on CSR activities would be done separately.
6. •
COMPANIES (CORPORATE SOCIAL
RESPONSIBILITY POLICY) RULES,
2014
Private & Unlisted companies are exempted from the
requirement of appointing an Independent Director on the CSR
committee.
• The expenditure incurred by the companies on CSR activities
should not be ones incurred in the normal course of business.
Clear distinction must be made between the two.
• The surplus arising of any CSR activities is not to be considered
as business profits of the company.
• The CSR Policies & activities undertaken must be displayed on
the website of the company as well as in the Board Report.
7. COMPANIES (CORPORATE SOCIAL
RESPONSIBILITY POLICY) RULES,
2014
CSR Rules for FOREIGN COMPANIES
• Foreign companies covered under CSR provision, would require
to contribute on the profits from the operations in India.
The Net Worth / Turnover / Net Profit of a Foreign Company
would be computed as per the Financial Statements prepared in
accordance with the provisions of clause (a) of sub section (1) of
Section 381 and section 198 of Companies Act, 2013.
8. COMPANIES (CORPORATE SOCIAL
RESPONSIBILITY POLICY) RULES,
2014
CSR Rules for FOREIGN COMPANIES
• Foreign companies covered under CSR provision, would require
to contribute on the profits from the operations in India.
The Net Worth / Turnover / Net Profit of a Foreign Company
would be computed as per the Financial Statements prepared in
accordance with the provisions of clause (a) of sub section (1) of
Section 381 and section 198 of Companies Act, 2013.
9. COMPANIES (CORPORATE SOCIAL
RESPONSIBILITY POLICY) RULES,
2014
• Any contribution to a political party; directly or indirectly.
• CSR projects for the Welfare of its own employees & its
families.
• Any CSR expenditure incurred outside India.
10. SCHEDULE VII OF THE COMPANIES
ACT, 2013
ACTIVITIES WHICH MAY BE INCLUDED
• BY through a notification on 27th Feb., 2014 amended the schedule and
MCA COMPANIES IN THEIR CSR POLICY
widened the scope of CSR activities.
• Now the revised Sch. VII is as follows :1. Eradicating hunger, poverty, and malnutrition, promoting preventive
health care, sanitation and making available safe drinking water.
2. Promoting education, including special education and employment
enhancing vocation skills among children, women, elderly, and
differently abled and livelihood enhancement projects.
3. Promoting gender equality, empowering women, setting up homes and
hostels for women, and orphans, setting up old age homes, day care
centres, and such other facilities for senior citizens and measures for
reducing inequalities faced socially, and economically backward groups.
11. SCHEDULE VII OF THE COMPANIES
ACT, 2013
ACTIVITIES WHICH MAY BE INCLUDED
BY COMPANIES sustainability, ecological balance, protection of
4. Ensuring environmental IN THEIR CSR POLICY
flora and fauna, animal welfare, agroforestry, conservation of natural
resources and maintaining quality of soil, air and water.
5.
6.
7.
Protection of national heritage, art, and culture including restoration of
buildings and sites of historical importance and works of art, setting up
public libraries, promotion and development of traditional arts and
handicrafts.
Measures for the benefit of armed forces veterans, war widows, and
their dependents.
Training to promote rural sports, nationally recognized sports,
paralympic sports and olympic sport.
12. SCHEDULE VII OF THE COMPANIES
ACT, 2013
ACTIVITIES WHICH MAY BE INCLUDED
BY COMPANIES IN THEIR CSRor POLICY
8. Contribution to Prime Minister’s National Relief Fund
any other fund
set up by the Central Government for socio-economic development and
relief and welfare of the scheduled castes and the Scheduled tribes and
other backward classes, minorities, and women.
9.
Contribution or funds provided to technology incubators located within
academic institutions which are approved by the Central Government.
10. Rural Development Projects.
13. FORMAT OF THE ANNUAL
REPORT ON CSR
ACTIVITIES TO BE
INCLUDED IN THE BOARD
REPORT.
1.
2.
3.
4.
5.
A brief outline of the Company’s CSR policy.
Composition of CSR committee.
Average net profit of the last three financial years.
Prescribed CSR expenditure (2% of the net profit).
Details of CSR spent during the financial year:
a) Total amount to be spent for the financial year
b) Amount unspent; if any
c) Manner in which the amount spent during the financial
year.
15. FORMAT OF THE ANNUAL
REPORT ON CSR
ACTIVITIES TO BE
INCLUDED IN THE BOARD
6. In case REPORT. has failed to spend the two percent of the
the company
average net profit of the last three financial years or any part
thereof, the company shall provide the reasons for not
spending the amount in its Board report.
7. A responsibility statement of the CSR Committee that the
implementation and monitoring of CSR Policy, is in compliance
with the CSR objectives and Policy of the company.
8. The report shall be signed by
CEO / MD / Director of the company
Chairman of CSR committee
Person specified under clause (d) of sub section (1) of
Section 380 of the Act. (in case of foreign company)
16. LINK TO NOTIFICATION
• Notification for the applicability of Sec. 135 & Sch. VII of
the Companies Act, 2013
http://www.mca.gov.in/Ministry/pdf/CompaniesActNotificati
on1_2014.pdf
__________________________________________________
• Notification: Companies (Corporate Social Responsibility
Policy ) Rules, 2014
http://www.mca.gov.in/Ministry/pdf/CompaniesActNotificati
on2_2014.pdf
__________________________________________________
• Notification amending Sch. VII of the Companies Act, 2013.
http://www.mca.gov.in/Ministry/pdf/CompaniesActNotificati
on3_2014.pdf
17. TAX TREATMENT OF
CSR EXPENDITURE
Presently there is no circular or notification issued
by CBDT regarding the tax treatment for CSR
expenditure.