About csr and responsibility of corporate sector towards primary education in...Muthu Pn
Corporate social responsibility (CSR) means contributing to societal good and integrating social and environmental objectives with business operations. The Companies Act of 2013 mandates that large companies spend 2% of profits on CSR activities. While CSR was traditionally philanthropic, the focus is now on operating businesses responsibly. There is a need for CSR in primary education given most Indians live rurally and government schools lack facilities. Several major companies run programs to support primary education through building schools, teacher training, and educational technology.
Corporate social responsibility practices in indiaShivani .
Corporate social responsibility practices in India outlines the key concepts of CSR. CSR refers to corporate accountability for social impact and involves environmental improvement, stakeholder responsiveness, and economic development. CSR follows a triple bottom line of people, planet, and profit. It has evolved from an ethical to stakeholder model over time. Benefits of CSR programs include attracting employees, reputation gains, and avoiding negative press. Indian law requires large companies to spend 2% of profits on CSR activities.
Corporate Social Responsibility is a new and untouched phinomina for Indian Companies and introduction of it from Financial Year 2014-15 as compliance for selective categories of companies, there is going to be a far reaching impact of it into the society and economy
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.
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 (CSR) refers to voluntary actions that businesses take to operate in an economically, socially, and environmentally sustainable manner. CSR acknowledges that companies have a responsibility to various stakeholders, including employees, customers, investors, communities, and the environment. CSR involves businesses integrating social and environmental concerns into their operations and interactions with stakeholders on a voluntary basis.
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.
About csr and responsibility of corporate sector towards primary education in...Muthu Pn
Corporate social responsibility (CSR) means contributing to societal good and integrating social and environmental objectives with business operations. The Companies Act of 2013 mandates that large companies spend 2% of profits on CSR activities. While CSR was traditionally philanthropic, the focus is now on operating businesses responsibly. There is a need for CSR in primary education given most Indians live rurally and government schools lack facilities. Several major companies run programs to support primary education through building schools, teacher training, and educational technology.
Corporate social responsibility practices in indiaShivani .
Corporate social responsibility practices in India outlines the key concepts of CSR. CSR refers to corporate accountability for social impact and involves environmental improvement, stakeholder responsiveness, and economic development. CSR follows a triple bottom line of people, planet, and profit. It has evolved from an ethical to stakeholder model over time. Benefits of CSR programs include attracting employees, reputation gains, and avoiding negative press. Indian law requires large companies to spend 2% of profits on CSR activities.
Corporate Social Responsibility is a new and untouched phinomina for Indian Companies and introduction of it from Financial Year 2014-15 as compliance for selective categories of companies, there is going to be a far reaching impact of it into the society and economy
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.
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 (CSR) refers to voluntary actions that businesses take to operate in an economically, socially, and environmentally sustainable manner. CSR acknowledges that companies have a responsibility to various stakeholders, including employees, customers, investors, communities, and the environment. CSR involves businesses integrating social and environmental concerns into their operations and interactions with stakeholders on a voluntary basis.
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.
1) The document discusses corporate social responsibility (CSR) in Colombia. It outlines four key things for investors to know about CSR in Colombia.
2) CSR is voluntary for businesses and commitments derived from CSR are generally not legally binding. However, there are international and domestic tools that can help companies incorporate CSR.
3) Colombia has adopted the OECD Guidelines for Multinational Enterprises, which establish voluntary principles and standards for responsible business conduct consistent with domestic and international law.
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
Corporate social responsibility: How economic is it to be socially responsible??kirmanialika
This document discusses corporate social responsibility (CSR). It defines CSR as companies managing business processes to have an overall positive social impact, and embracing responsibility for actions to encourage positive environmental, consumer, employee, community, and stakeholder impacts. CSR involves balancing economic, legal, ethical, and philanthropic responsibilities. The document outlines the historical development of CSR and key CSR issues. It discusses arguments for and against CSR, and provides an example of CSR practices at ITC Limited in India. In conclusion, it argues that while CSR limits profits, businesses impact many people and have a social responsibility to consider people and the planet, not just profits.
Meaning & definition of CSR
History & evolution of CSR
Motives of CSR
Benefits and internal scope of CSR
Enterprise social responsibility
Concept of sustainability & stakeholder management
CSR through triple bottom line and sustainable business
Environmental aspect of CSR
Chronological evolution of CSR in India
Syllabus as prescribed by RTM Nagpur University for the course 'CSR and Sustainability, for MBA Programme
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.
This document discusses CSR legislation in India according to Section 135 of the Companies Act 2013. It mandates that companies meeting certain profit thresholds must spend 2% of their average net profits of the previous three years on CSR activities focused on areas like poverty alleviation, education, gender equality, healthcare, environment sustainability and others. Companies are required to form a CSR committee to devise and monitor CSR strategies. While there are no penalties for failing to spend on CSR, companies can be fined for failing to report on CSR activities or explain why spending was not done. The top CSR performing companies in India are also mentioned.
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.
This document provides an overview of corporate social responsibility (CSR) in India. It discusses the evolution of CSR in India, including key government policies and the 2013 Companies Act which mandates that large companies spend 2% of profits on CSR activities. It also outlines definitions of CSR, benefits of CSR programs, and requirements for CSR committees and reporting under the Companies Act. Analysis of disclosures from over 1,270 companies found that total CSR spending in 2016-17 increased 27% from the previous year and was 92% of the amount required under the 2% mandate.
Identifying key stakeholders of CSR & their roles
Role of Public Sector in Corporate government programs that encourage voluntary responsible action of corporations
Role of Nonprofit & Local Self Governance in implementing CSR
Contemporary issues in CSR & MDGs
Global Compact Self Assessment Tool
National Voluntary Guidelines by Govt. of India
Understanding roles and responsibilities of corporate foundations
The document discusses corporate social responsibility (CSR) and provides definitions from various organizations. It outlines models of CSR including the classical economic model, socioeconomic model, Friedman model, Ackerman model, Carroll model, and others. The document discusses the CSR provisions in the Indian Companies Act of 2013, including applicability, requirements for CSR committees and expenditures. It lists eligible CSR activities and provides data on common CSR activities undertaken in India, with education and healthcare being major focuses.
This document discusses corporate social responsibility (CSR) in India. It provides background on CSR, defining it as companies managing business processes to have an overall positive social impact. CSR was first discussed academically in the 1950s and is now mandatory for large companies in India under the Companies Act of 2013. The document outlines drivers and significance of CSR, as well as challenges in implementation, such as building local capacity and lack of transparency. It provides a checklist for evaluating CSR programs and concludes that while the Companies Act is a step forward, clear guidelines and transparency are still needed for CSR to be fully realized in India.
Corporate Social Responsibility (CSR) in India has traditionally been seen as philanthropic activities by corporations. The Companies Act of 2013 introduced the concept of CSR to the forefront and mandates transparency and disclosure of CSR activities. It defines CSR as activities related to education, healthcare, environment sustainability, and more. The Act also outlines requirements around budget allocation for CSR activities and management through a CSR committee. The Confederation of Indian Industry published a handbook to guide companies on developing CSR strategies and implementing effective programs aligned with the Companies Act.
The document discusses the concept of corporate social responsibility from multiple perspectives. It provides definitions of CSR from various organizations that focus on businesses managing their operations in a way that benefits society. The document also outlines the historical evolution of CSR and discusses some of the drivers and benefits of companies adopting CSR practices, such as strengthening their brand and attracting employees. It provides some examples of CSR programs and issues some companies have faced regarding their social and environmental impacts.
Corporate social responsibility (CSR) refers to how businesses negotiate their role in society, while business ethics examines morally appropriate behaviors. While related, CSR does not guarantee ethical behavior. Interest in CSR is growing as companies are increasingly rated on social criteria. Companies engage in CSR to meet public expectations, hire and retain employees, and improve performance. Activities range from profit-maximizing to integrating social objectives into business goals. Businesses are developing global ethics through codes of conduct, certification, and following global standards to create consistent rules and reduce uncertainties in interconnected markets. Challenges include rules reflecting powerful interests and inhibiting innovation and adaptation to globalization.
The document discusses corporate social responsibility (CSR) concepts and practices of Microsoft in India. It defines CSR as a business's commitment to contribute to economic development while improving quality of life of the community. It outlines Microsoft's global revenue and employee size. It then describes Microsoft's CSR projects in India focusing on education, skills development, gender equality, use of technology for social good, and disaster relief. Specific CSR programs discussed are Partners in Learning, YouthSpark, Project Saksham, and the Connect IT program.
CORPORATE SOCIAL RESPONSIBILITY - Background & Implications In IndiaSatyaki Chowdhury
This Presentation on CSR will give you the very core idea of what is CSR, how it evolved, what are it's applications, its effect on the aspect of Business & Some examples of CSR's Involvement in India!!!!
The Slide No. 25 contains a Youtube Video. The link is given below :
https://www.youtube.com/watch?v=o0Ur-JqQmvQ
Hope you will get a basic idea of CSR from the presentation.
Thank You.
This document outlines key aspects of effective corporate social responsibility (CSR). It defines CSR as achieving a balance of economic, environmental and social imperatives to address stakeholder expectations. It discusses stakeholders in business and presents a CSR pyramid showing different levels of responsibility from economic to ethical. It explores reasons for the increased importance of CSR, how companies can implement CSR through various forms, and the potential business benefits of an effective CSR strategy.
A Report On Corporate Social Responsibility : The Tata GroupNavitha Pereira
A report highlighting the various corporate social responsibility initiatives taken by the Tata Group and their subsidiaries. Tata sustainability policy has also been mentioned.
Corporate Social Responsibility(CSR) In Nepal StatusBibek Regmi
This document discusses corporate social responsibility (CSR) in Nepal. It provides definitions of CSR, noting that CSR goes beyond legal compliance and involves assessing social and environmental impacts. The status of CSR in Nepal is described as mostly associated with philanthropy and charity. Some key CSR initiatives by companies in Nepal are highlighted, including those by Nepal Telecom, Standard Chartered Bank, and CG Corp Global. The CSR law in Nepal requires medium and large industries to allocate at least 1% of annual profits to CSR activities. While CSR efforts are emerging in Nepal, regulatory frameworks remain limited and CSR activities are often philanthropic in nature.
The water area presents its annual report that reflects the activity of the company and its actions during 2014, both social and economic and environmental, within the framework of the organization's internal rules, the Global Compact principles (Abengoa is a member) and the laws of the countries in which Abengoa Water works.
Presentation 9Apr2010 at Lokey Graduate School of Business, Center For Socially Responsible Business conference "Three Ps: People, Planet, Profit." Suzanne Fallender, Director, CSR Strategy & Communications, Intel
View the video:http://vimeo.com/11330604
1) The document discusses corporate social responsibility (CSR) in Colombia. It outlines four key things for investors to know about CSR in Colombia.
2) CSR is voluntary for businesses and commitments derived from CSR are generally not legally binding. However, there are international and domestic tools that can help companies incorporate CSR.
3) Colombia has adopted the OECD Guidelines for Multinational Enterprises, which establish voluntary principles and standards for responsible business conduct consistent with domestic and international law.
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
Corporate social responsibility: How economic is it to be socially responsible??kirmanialika
This document discusses corporate social responsibility (CSR). It defines CSR as companies managing business processes to have an overall positive social impact, and embracing responsibility for actions to encourage positive environmental, consumer, employee, community, and stakeholder impacts. CSR involves balancing economic, legal, ethical, and philanthropic responsibilities. The document outlines the historical development of CSR and key CSR issues. It discusses arguments for and against CSR, and provides an example of CSR practices at ITC Limited in India. In conclusion, it argues that while CSR limits profits, businesses impact many people and have a social responsibility to consider people and the planet, not just profits.
Meaning & definition of CSR
History & evolution of CSR
Motives of CSR
Benefits and internal scope of CSR
Enterprise social responsibility
Concept of sustainability & stakeholder management
CSR through triple bottom line and sustainable business
Environmental aspect of CSR
Chronological evolution of CSR in India
Syllabus as prescribed by RTM Nagpur University for the course 'CSR and Sustainability, for MBA Programme
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.
This document discusses CSR legislation in India according to Section 135 of the Companies Act 2013. It mandates that companies meeting certain profit thresholds must spend 2% of their average net profits of the previous three years on CSR activities focused on areas like poverty alleviation, education, gender equality, healthcare, environment sustainability and others. Companies are required to form a CSR committee to devise and monitor CSR strategies. While there are no penalties for failing to spend on CSR, companies can be fined for failing to report on CSR activities or explain why spending was not done. The top CSR performing companies in India are also mentioned.
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.
This document provides an overview of corporate social responsibility (CSR) in India. It discusses the evolution of CSR in India, including key government policies and the 2013 Companies Act which mandates that large companies spend 2% of profits on CSR activities. It also outlines definitions of CSR, benefits of CSR programs, and requirements for CSR committees and reporting under the Companies Act. Analysis of disclosures from over 1,270 companies found that total CSR spending in 2016-17 increased 27% from the previous year and was 92% of the amount required under the 2% mandate.
Identifying key stakeholders of CSR & their roles
Role of Public Sector in Corporate government programs that encourage voluntary responsible action of corporations
Role of Nonprofit & Local Self Governance in implementing CSR
Contemporary issues in CSR & MDGs
Global Compact Self Assessment Tool
National Voluntary Guidelines by Govt. of India
Understanding roles and responsibilities of corporate foundations
The document discusses corporate social responsibility (CSR) and provides definitions from various organizations. It outlines models of CSR including the classical economic model, socioeconomic model, Friedman model, Ackerman model, Carroll model, and others. The document discusses the CSR provisions in the Indian Companies Act of 2013, including applicability, requirements for CSR committees and expenditures. It lists eligible CSR activities and provides data on common CSR activities undertaken in India, with education and healthcare being major focuses.
This document discusses corporate social responsibility (CSR) in India. It provides background on CSR, defining it as companies managing business processes to have an overall positive social impact. CSR was first discussed academically in the 1950s and is now mandatory for large companies in India under the Companies Act of 2013. The document outlines drivers and significance of CSR, as well as challenges in implementation, such as building local capacity and lack of transparency. It provides a checklist for evaluating CSR programs and concludes that while the Companies Act is a step forward, clear guidelines and transparency are still needed for CSR to be fully realized in India.
Corporate Social Responsibility (CSR) in India has traditionally been seen as philanthropic activities by corporations. The Companies Act of 2013 introduced the concept of CSR to the forefront and mandates transparency and disclosure of CSR activities. It defines CSR as activities related to education, healthcare, environment sustainability, and more. The Act also outlines requirements around budget allocation for CSR activities and management through a CSR committee. The Confederation of Indian Industry published a handbook to guide companies on developing CSR strategies and implementing effective programs aligned with the Companies Act.
The document discusses the concept of corporate social responsibility from multiple perspectives. It provides definitions of CSR from various organizations that focus on businesses managing their operations in a way that benefits society. The document also outlines the historical evolution of CSR and discusses some of the drivers and benefits of companies adopting CSR practices, such as strengthening their brand and attracting employees. It provides some examples of CSR programs and issues some companies have faced regarding their social and environmental impacts.
Corporate social responsibility (CSR) refers to how businesses negotiate their role in society, while business ethics examines morally appropriate behaviors. While related, CSR does not guarantee ethical behavior. Interest in CSR is growing as companies are increasingly rated on social criteria. Companies engage in CSR to meet public expectations, hire and retain employees, and improve performance. Activities range from profit-maximizing to integrating social objectives into business goals. Businesses are developing global ethics through codes of conduct, certification, and following global standards to create consistent rules and reduce uncertainties in interconnected markets. Challenges include rules reflecting powerful interests and inhibiting innovation and adaptation to globalization.
The document discusses corporate social responsibility (CSR) concepts and practices of Microsoft in India. It defines CSR as a business's commitment to contribute to economic development while improving quality of life of the community. It outlines Microsoft's global revenue and employee size. It then describes Microsoft's CSR projects in India focusing on education, skills development, gender equality, use of technology for social good, and disaster relief. Specific CSR programs discussed are Partners in Learning, YouthSpark, Project Saksham, and the Connect IT program.
CORPORATE SOCIAL RESPONSIBILITY - Background & Implications In IndiaSatyaki Chowdhury
This Presentation on CSR will give you the very core idea of what is CSR, how it evolved, what are it's applications, its effect on the aspect of Business & Some examples of CSR's Involvement in India!!!!
The Slide No. 25 contains a Youtube Video. The link is given below :
https://www.youtube.com/watch?v=o0Ur-JqQmvQ
Hope you will get a basic idea of CSR from the presentation.
Thank You.
This document outlines key aspects of effective corporate social responsibility (CSR). It defines CSR as achieving a balance of economic, environmental and social imperatives to address stakeholder expectations. It discusses stakeholders in business and presents a CSR pyramid showing different levels of responsibility from economic to ethical. It explores reasons for the increased importance of CSR, how companies can implement CSR through various forms, and the potential business benefits of an effective CSR strategy.
A Report On Corporate Social Responsibility : The Tata GroupNavitha Pereira
A report highlighting the various corporate social responsibility initiatives taken by the Tata Group and their subsidiaries. Tata sustainability policy has also been mentioned.
Corporate Social Responsibility(CSR) In Nepal StatusBibek Regmi
This document discusses corporate social responsibility (CSR) in Nepal. It provides definitions of CSR, noting that CSR goes beyond legal compliance and involves assessing social and environmental impacts. The status of CSR in Nepal is described as mostly associated with philanthropy and charity. Some key CSR initiatives by companies in Nepal are highlighted, including those by Nepal Telecom, Standard Chartered Bank, and CG Corp Global. The CSR law in Nepal requires medium and large industries to allocate at least 1% of annual profits to CSR activities. While CSR efforts are emerging in Nepal, regulatory frameworks remain limited and CSR activities are often philanthropic in nature.
The water area presents its annual report that reflects the activity of the company and its actions during 2014, both social and economic and environmental, within the framework of the organization's internal rules, the Global Compact principles (Abengoa is a member) and the laws of the countries in which Abengoa Water works.
Presentation 9Apr2010 at Lokey Graduate School of Business, Center For Socially Responsible Business conference "Three Ps: People, Planet, Profit." Suzanne Fallender, Director, CSR Strategy & Communications, Intel
View the video:http://vimeo.com/11330604
The document discusses Intel's corporate social responsibility initiative. It provides an overview of Intel's business and products. It then analyzes Intel's CSR policies and goals regarding environmental sustainability and international development. It discusses Intel's successes in areas like green building certification and investing in renewable energy. It also notes some failures to meet targets in reducing water and chemical waste. Suggestions are provided to improve transparency, accountability, and regular review of CSR progress. The summary concludes that Intel is working to meet its environmental sustainability goals by 2020.
Fujitsu's corporate social responsibility approach focuses on five pillars: environment, safety, inclusion, wellbeing, and social action. Through its Business Connector Programme, Fujitsu supports local communities and develops talent. As a Business Connector, Fujitsu works to establish sustainable partnerships in education, employment, and social cohesion in North Manchester by ensuring residents have skills needed by employers and engaging youth. Fujitsu has connected with organizations like Kelly Services and Manchester Communications Academy to support employability and education. Allowing employees to take time for social enterprise work provides unique learning opportunities and benefits Fujitsu through employee engagement and an extended network.
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.
Google engages in various corporate social responsibility initiatives in China and globally, such as providing funding for social innovation projects by Chinese college students, donating money and resources to earthquake relief efforts in China, and awarding grants to charitable organizations through its Google Grants program. Google also donates money to combat human trafficking and launches challenges to fund social entrepreneurs in India. It offers apprenticeship courses led by employees and works to make its operations more environmentally friendly through initiatives like Google Green.
Corporate Social Responsibility, or CSR, has received growing attention in the past decade. We’ll take a look at the roots of the concept, what it involves and some of the benefits which include lowered costs, improved employee satisfaction and a more positive impact on our world. We’ll also briefly discuss how many external vendors, from local energy auditors to FrontStream with our portfolio of tools, can help you accomplish CSR goals.
This document provides information about the PU Leather Digital Printing Machine model colorful 6015B. It lists the price as US$14,000 and details its printing capabilities including multi-color printing at 8 square meters per hour with a resolution of 2880 dpi. The document also compares the costs of operating this machine to other printing methods and lists technical specifications.
This report offers a thorough, in-depth review of all the key stats for the Social, Digital and Mobile landscape in China in 2014. Packed with 95 slides covering platform preferences, behavioural usage and economic indicators, the deck presents stand-out infographics that are ready to copy-paste direct into your own presentations and blogs.
CORPORATE SOCIAL RESPONSIBILITY OF APPLECodelaxy Ltd.
Apple India Private Limited engages in corporate social responsibility (CSR) initiatives focused on education, human rights, health and safety, and environmental sustainability. It provides education and training programs for workers, enforces labor standards and human rights protections, conducts health and safety research and programs, and works to reduce energy usage and water consumption. Apple's CSR programs are overseen by a committee and include initiatives focused on rural education, livelihood training, education for low-income communities, and special education, with implementation beginning in 2015.
CSR is an increasingly important topic for business students. This revision presentation explains the basic theory behind CSR and outlines the main arguments for and against implementing CSR. Various case studies are also provided together with links to further research.
This report offers a thorough, in-depth review of all the key stats for the Social, Digital and Mobile landscape around Asia-Pacific in 2014. Packed with more than 250 slides covering 30 of the region's key countries, the deck has been designed to offer quick and simple cut-and-paste info graphics for your own presentations and blogs.
Challenges Of Corporate Social ResponsibilityElijah Ezendu
Issues in development of workable corporate social responsibility strategy and resolution of awe-inspiring stance for championing effective governance.
Tata Steel was established in 1907 in eastern India with a vision of corporate social responsibility under its founder Jamsetji Tata. Some notable CSR initiatives undertaken by Tata Steel over the years include establishing eight hour workdays in 1912, employee welfare schemes in 1916, and responding to natural disasters with relief supplies. CSR is deeply engrained in Tata Steel's organizational culture and it has implemented various programs focused on the environment, employee relations, community development, healthcare, education and the arts. Tata Steel aims to be a responsible corporate citizen and improve the quality of life in the areas it operates.
This document provides an introduction to corporate social responsibility (CSR), including a definition, reasons for adopting CSR programs, potential objections to CSR, and how CSR programs can be communicated and reported. It discusses the business advantages of CSR in areas like human resources, risk management, and brand differentiation. It also presents alternative viewpoints on CSR and considers frameworks for CSR reporting, including using triple bottom line accounting and standards from organizations like the Global Reporting Initiative.
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.
Corporate social responsibility | 2015 - Recent TrendsAadhit B
This paper predominantly enumerates the role of Corporate Social responsibilities in the present scenario, its evolution, impact of Clause 135 of Companies Act, 2013, Role of CSRs in SMEs and also its Global Impact.
|Clause 135, Companies Act, 2013 | Companies (CSR policies) Rules, 2014 |
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.
India has experienced strong economic growth but uneven distribution of benefits has led to social issues like poverty and malnutrition. Corporate social responsibility (CSR) is important for companies and citizens to address this. The Companies Act of 2013 mandates that large companies spend 2% of profits on CSR activities. While CSR was traditionally philanthropic, it is now more strategic and linked to business objectives, which can benefit companies through stakeholder relationships, risk mitigation, and talent attraction. National guidelines provide a framework of social, environmental and economic responsibilities for businesses.
The net profit as per section 198 of the Companies Act, 2013 is calculated as follows:
Profit before Tax 4,000,000
Less: Directors' remuneration (300,000)
Interest on debentures & unsecured loan (100,000)
Bad debts (55,000)
Loss on sale of undertaking (80,000)
Add: Subsidy from government 10,000
Less: Profit on sale of machinery (40,000)
Net gain on fair value changes (80,000)
Net Profit as per Section 198 3,355,000
CSR Contribution made by selected Indian Manufacturing Multinational Companiesijtsrd
"The concept of CSR has gained lot of significance lately. But in India, complying provisions of CSR becomes mandatory after introduction of CSR policy in Indian Companies Act, 2013 for the companies who fulfill the certain criteria as mentioned. The rationale behind CSR is to embrace the responsibility for companies’ action and encouraging the positive impact through its activities on environment, healthcare, livelihood, rural development, education and so on. The present study has made an attempt to understand the CSR policy initiatives made by four major companies in India. All the data collected and used for research work is secondary in nature like official websites and reports published by companies, magazines, journals and other reference books. The purpose of this paper is to know the contribution made by four top Indian manufacturing MNC and analyze the same. These companies are drawn from ‘The CSR Journal Miss. Charuta P. Kulkarni ""CSR Contribution made by selected Indian Manufacturing Multinational Companies"" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Special Issue | Fostering Innovation, Integration and Inclusion Through Interdisciplinary Practices in Management , March 2019, URL: https://www.ijtsrd.com/papers/ijtsrd23055.pdf
Paper URL: https://www.ijtsrd.com/management/strategic-management/23055/csr-contribution-made-by-selected-indian-manufacturing-multinational-companies/miss-charuta-p-kulkarni"
Assessment of CSR Law in Companies Act, 2013 – An Analysis of the Performance...inventionjournals
Introduction: The new law making CSR expenditure and reporting mandatory for certain companies is a new chapter in the Indian corporate world and has provided a necessary boost to the status of companies’ responsibility towards the stakeholders, and transparency and accountability of their actions. Need: The mandatory 2% spending of profits on CSR activities got mixed reaction from corporate executives. To ensure that the enforcement of the law isn’t limited to the term “cheque-book CSR”, regular exploration of the companies’ CSR expenditures and their consequent outcomes is absolutely essential. Objective: The paper aims to assess the outcome of Section 135 of the Companies Act, 2013, in the first year of its implementation among the BSE-SENSEX companies. Research methodology: Secondary sources were utilized for collecting profits and CSR expenditure figures of the selected 30 companies for conducting an ex-post analysis for the year 2014-15. Key findings of the study: Less than 15% of the BSE-SENSEX companies had spent on CSR activities an amount that is equal to or greater than the stipulated 2% of the average profits of the preceding 3 years as per Section 135 of Companies Act, 2013. Implications: Immediate attention of regulatory bodies is desired towards companies failing to dispense the funds earmarked for CSR as stipulated by the law to ensure compliance.
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This document discusses corporate social responsibility (CSR) policies and initiatives in India. It provides an overview of key aspects of CSR requirements under the Indian Companies Act of 2013, including spending thresholds, governance structures, and eligible activities. It notes that CSR spending by major Indian companies is growing and outlines some leading initiatives, particularly by Mahindra & Mahindra in areas like education, health, and the environment. The document aims to analyze the impact of the Companies Act on CSR approaches among Indian and foreign companies operating in India.
This document discusses corporate social responsibility (CSR) in India. It outlines the key dimensions of CSR including social, economic, and environmental responsibilities. It describes the CSR requirements under the Indian Companies Act of 2013, including a mandatory 2% of net profits expenditure. Examples are given of major Indian companies and their CSR programs in areas like education, healthcare, livelihoods, and the environment.
Corporate social responsibility (CSR) came into common use in the 1960s and 1970s. CSR emphasizes a company's obligations and accountability to society, while corporate social responsiveness emphasizes actions taken and corporate social performance emphasizes outcomes. CSR involves companies negotiating their role in society and having a positive impact through activities that benefit the environment, customers, employees, stakeholders, and communities. While charity involves donations, CSR aligns a company's values and activities with social causes for long-term business benefits. In India, the new Companies Bill of 2013 mandates that large companies spend 2% of profits on CSR activities.
Corporate Social Responsibility - FiinovationFiinovation
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John Elkington coined the term "Triple Bottom Line" in 1994, which refers to a business being responsible for profit, protecting the planet, and serving people's interests. Milton Friedman argued that a business's only social responsibility is to increase profits within legal bounds. The 2013 CSR Bill in India mandates that large companies spend 2% of their average net profits on social and environmental activities listed in Schedule VII, such as eradicating hunger and poverty, promoting education, healthcare, and environmental sustainability. While companies and activists have mixed views, proper implementation faces challenges such as unequal regional development and ensuring funds are properly spent and monitored.
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.
India Announces New Corporate Social Responsibility RulesNair and Co.
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The document provides an overview of topics related to corporate social responsibility (CSR) in India. It discusses the definition of CSR, laws around CSR in India, why CSR is important for businesses, the CSR process including defining strategies and programs, monitoring impact, and reporting. It also provides examples of CSR initiatives undertaken by major Indian companies like Tata Steel, Tata Power, and others. The key points covered include the legal requirements around CSR spending in India, benefits to businesses from CSR, and how leading companies structure and implement their CSR programs.
This document provides an overview of a case study on the corporate social responsibility (CSR) practices of Reliance Power plant in Zuarinagar, Goa. It discusses the objectives and research methodology of the study. It then defines CSR and outlines Reliance Power's CSR initiatives in areas like health, education, employment, and environmental sustainability. The CSR activities described include operating medical centers and eye camps, building schools, providing skills training to locals, ensuring access to clean water, and implementing eco-friendly practices in company townships.
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2. CS Jatin Jalundhwala
2
What is CSR ?
The global context
The CSR approach is holistic and integrated with the core
business strategy for addressing social and environmental
impacts of businesses.
CSR needs to address the well-being of all stakeholders and
not just the company’s shareholders.
Philanthropic activities are only a part of CSR, which otherwise
constitutes a much larger set of activities entailing strategic
business benefits.
The EC1 defines CSR as “the responsibility of enterprises for
their impacts on society.”
1 http://ec.europa.eu/enterprise/policies/sustainablebusiness/ corporate-social-responsibility/index_en.htm
9th May, 2014
3. CS Jatin Jalundhwala
What is CSR ?
o Countries like Sweden, Norway, Netherlands, France and
Australia mandated CSR reporting.
o India has walked the extra mile and legislated mandatory CSR
activities as well as reporting.
o Looks like India is the first country to mandate CSR through
legislation.
o This is the first step and it is likely that the law will develop further
when CSR spend does not happen.
9th May, 2014
CSR in India
4. CS Jatin Jalundhwala
4
What is CSR ?
CSR in India
CSR in India has traditionally been seen as a philanthropic
activity.
CSR activities have moved from institutional building
(educational, research and culture) to community development
through various projects.
The Companies Act, 2013 has introduced the idea of CSR to
the forefront and through its disclosure-or-explain mandate,
is promoting greater transparency and disclosure.
Schedule VII of the Act, which lists out the CSR activities,
suggests communities to be the focal point.
9th May, 2014
5. CS Jatin Jalundhwala
5
CSR and sustainability
Corporate Sustainability is derived from the concept of
sustainable development. It refers to the role that companies can
play in meeting the agenda of sustainable development and
entails a balanced approach to economic progress, social
progress and environment stewardship.
CSR in India tends to focus on what is done with profits after
they are made.
On the other hand, sustainability is about factoring the social and
environmental impacts of conducting business, that is, how
profits are made.
Hence, much of the Indian practice of CSR is an important
component of sustainability or responsible business, which is a
larger idea, a fact that is evident from various sustainability
frameworks.
9th May, 2014
6. CS Jatin Jalundhwala
6
Benefits of a robust CSR programme
Communities provide the license to operate :
In India, community is the important stakeholder and many companies
have started realising that the “license to operate” is no longer given by
governments alone, but communities that are impacted by a company’s
business operations.
Attracting and retaining employees :
CSR increases employee morale and a sense of belonging to the
Company.
Communities as suppliers
CSR ensures adequate and secure supply chain for its requirements.
Enhancing corporate reputation
CSR generates goodwill, positive impact and branding benefits.
9th May, 2014
7. CS Jatin Jalundhwala
7
CSR provisions in the Companies Act, 2013
Mandatory CSR
obligations
Section 166(2)
(duties of directors)
Universally
applicable to all
companies
Applicable to
specified companies
Section 135
(mandatory
minimum spends on
specified CSR
activities every year)
9th May, 2014
8. CS Jatin Jalundhwala
8
Section 166(2) of the Companies Act, 2013
Section 166(2) of the Companies Act, 2013 requires a
director of a Company :
o To act in good faith to promote the objects of the Company.
o for the benefit of its members as a whole and
o in the best interests of
• the Company
• its employees
• its shareholders
• the community and
• for the protection of environment
Section 166(2) dealing with the duties of directors applies universally to
directors of all companies.
9th May, 2014
9. CS Jatin Jalundhwala
CSR – Section 135 of Companies Act, 2013
9
Listed
Company
If 1 of 3
Conditions
Met
Unlisted
Public
Private
Company
Of the Top 1000 Listed
Companies, 874 Covered
Of the Top 300
Unlisted Companies,
296 Covered
CSR Mandatory
9th May, 2014
10. CS Jatin Jalundhwala
10
Net worth >
Rs. 500 Cr.
Turnover >
Rs. 1000 Cr.
Net Profit >
Rs. 5 Cr.
CSR Criteria
Any one Condition during any Financial Year
9th May, 2014
CSR – Section 135 of Companies Act, 2013
11. CS Jatin Jalundhwala
11
Foreign Companies are covered
Criteria for
applicability of CSR
to foreign company
Foreign company
has branch office or
project office in India
Foreign Company
fulfils criteria in
Section 135(1)
9th May, 2014
12. CS Jatin Jalundhwala
12
Mandatory CSR obligations on Companies covered u/s. 135(1)
of the Companies Act, 2013.
Mandatory CSR
obligations under
Section 135
Constitute
CSR
Committee of
directors
Formulate
CSR
Policy
Undertake
CSR
activities as
per CSR
Policy
Undertake
CSR
spends of
at least 2%
of average
net profit
Disclosures
in BOD
report &
Company’s
website
9th May, 2014
13. CS Jatin Jalundhwala
Provisions for mandatory minimum CSR spends by Companies
CSR Spending @ 2% of Average Net Profits of Co. in Preceding
3 FYs.
Here NP is NPBT
“Net Profit” means the net profit of a company as per its financial
statement prepared in accordance with the provisions of the Act, but
shall not include the following, namely :-
o Any profit arising from any overseas branch or branches of the
company, whether operated as separate company or otherwise and
o any dividend received from other companies in India, which are
covered under and complying with the provisions of Section 135 of
the Act.
9th May, 2014
14. CS Jatin Jalundhwala
Once under CSR always under CSR ?
Conjoint reading of sub-sections (1) and (5) of Section 135 seems to
suggest that if covered under sub-section (1) “during any financial
year”, the minimum spends of 2% of average net profits will have to
be ensured “in every financial year” irrespective of whether
Section 135(1) is fulfilled or not.
o This is of course subject only to the condition that the average of
net profits is a positive figure.
o Rule 3(2) provides that once a company is covered by section
135(1), it will be out of the purview of CSR only if it ceases to be
covered by section 135(1) for three consecutive financial years.
9th May, 2014
15. CS Jatin Jalundhwala
Once under CSR always under CSR ?
SN Year Whether either of the three
criteria are met u/s. 135(1)
CSR obligations to
spend 2% of Avg. NP
1. 2014-15 Yes Yes
2. 2015-16 No Yes
3. 2016-17 No Yes
4. 2017-18 No Yes
5. 2018-19 No No
Example -
9th May, 2014
16. CS Jatin Jalundhwala
16
CSR Criteria : One way street ?
Year Net
Profit
Turnover Networth 3 Yrs Avg. Covered ?
2014-15 5 50 100 4 Yes 8 Lakhs
2015-16 (4) 20 101 4.66 Yes 9 Lakhs
2016-17 (3) 20 98 2.00 Yes 4 Lakhs
2017-18 (2) 10 96 (0.66) No – 3 FY
2018-19 (1) 9 95 (3.00) No – 3 FY
2019-20 6 50 101 (2.00) No – Avg loss
2020-21 7 60 108 1.00 Yes 2 Lakhs
Rs. In Crores
17. CS Jatin Jalundhwala
17
CSR Spending by Top Indian Companies
Estimates Rs. 10,000 – 15,000 cr. / year
o 2013 - Top 1,000 Listed Cos * 2% = Rs. 6,826 cr.
o 2013 - of Top 200 Unlisted Cos * 2% = Rs. 720 cr.
oTotal CSR based on this = Rs. 7,546 cr.
oAdd CSR from Private Cos = Rs. 2,000 cr.
oCSR is 2% of Avg. NPBT
# Rs. 15,000 cr. / year a more likely estimate
9th May, 2014
18. CS Jatin Jalundhwala
18
Constitution of CSR Committee
Listed Company
Minimum 3 Directors out of which AT LEAST 1 should be an
Independent Directors (ID).
Unlisted Public Company
• Minimum 3 Directors, one ID required if any one of the
following criteria under Section 149(4) of the Act are fulfilled -
»Paid up share capital Rs. 10 Crore or more or
»Turnover of Rs. 100 Crore or more or
»Outstanding loans or borrowings or debentures or deposits,
exceeding Rs. 50 Crore.
Private companies having only 2 Directors, committee of
these two directors only.
9th May, 2014
19. CS Jatin Jalundhwala
19
Role of CSR Committee -
Formulate
CSR Policy
out of
Specified
Activities
Recommend
Expense on
CSR
Activities
Monitor CSR
Policy of Co.
9th May, 2014
20. CS Jatin Jalundhwala
20
CSR Policy :
o Projects or programmes which a company plans to undertake within
Sch – VII.
CSR expenditure will not include any expenditure not in conformity
or not in line with activities of Schedule VII.
o modalities of execution of such projects.
o implementation schedule.
o monitoring process, excluding activities under normal course of
business.
o To ensure that activities under CSR Policy are included in
Schedule – VII.
o Display contents of CSR policy on the company’s web, if any.
o CSR activities can be undertaken through a registered trust.
o Disclosure in Board Report and AR for FY 2014-15.
9th May, 2014
21. CS Jatin Jalundhwala
CSR Activities - Schedule VII
The following activities have been included in Schedule VII:
1. Eradicating hunger, poverty and malnutrition, promoting preventive
health care and sanitation and making available safe drinking water.
2. Promoting education, including special education and employment
enhancing vocation skills especially among children, women, elderly
and the 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 by socially and economically backward
groups;
4. Ensuring environmental sustainability, ecological balance, protection of
flaura, fauna, animal welfare, agroforestry, conservation of natural
resources and maintaining quality of soil, air and water.
9th May, 2014
22. CS Jatin Jalundhwala
CSR Activities - Schedule VII
The following activities have been included in Schedule VII:
5. 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;
6. Measures for the benefit of armed forces veterans, war widows and
their dependents;
7. Training to promote rural sports, nationally recognized sports,
paralympic sports and olympic sports;
8. Contribution to the Prime Minister’s National Relief Fund or any other
fund set up by the Central Government for socio-economic
development and relief and welfare of the scheduled castes, the
Scheduled Tribes, other backward classes, minorities and woman;
9th May, 2014
23. CS Jatin Jalundhwala
CSR Activities - Schedule VII
The following activities have been included in Schedule VII:
9. Contributions or funds provided to technology incubators located within
academic institutions which are approved by the Central Government.
10. Rural development projects.
*****************
9th May, 2014
24. CS Jatin Jalundhwala
24
Activities not included in CSR
Schedule VII lists the various areas to be covered in the
implementation of CSR activities.
Following activities are not included in CSR activities –
1. Activities undertaken in normal course of business.
Distribution of books by paper manufacturing co. – No
Distribution of used articles / scraps it does not deal in - Yes
2. Activities undertaken only for the benefit of the employees
and their families.
Gym, Library, subsidized food etc not for general public
3. Contribution directly or indirectly to Political Party.
Advertising in a convention program of a political party.
4. Activities undertaken outside India.
9th May, 2014
25. CS Jatin Jalundhwala
25
How to spend
Donate to any
NGO
Donate to PM /
Other CG Funds
Collaborate
with other
Cos.
Carry out
Activities on its
own
Set up own
Foundation
9th May, 2014
26. CS Jatin Jalundhwala
26
Board’s Duty
CSR Policy in
BoD Report &
on Website, if
any
CSR Committee
in BoD Report
Ensure CSR
Policy
implemented
Give preference
to local areas
Reasons in
Report if less
than 2% spent
Ensure CSR @
2% of Avg. NP
in 3 FYs
9th May, 2014
27. CS Jatin Jalundhwala
27
Annual Report
7 Disclosures in Board of Directors’ Report :
1. Outline of CSR Policy + Projects proposed
2. CSR Committee Composition
3. Avg. NP for Last 3 FYs
4. CSR Exp. @ 2% of Avg. NP
5. CSR Spent during FY (as per prescribed format)
6. If Failure – then why failed in BoD Report
7. Responsibility – Implementation as per CSR policy of co.
9th May, 2014
28. CS Jatin Jalundhwala
28
CSR Processes
Operationalising the institutional
meachanism
Developing a CSR Strategy and
policy
Project development
Due deligence of the
implementation partner
Finalising the arrangement with the
implementing agency
Project approval
Project implementation
Progress monitoring and reporting
Report consolidation and
communication
Impact measurement
1
2
3
4
5
9th May, 2014
29. CS Jatin Jalundhwala
FAQs on CSR
Q. What is the date from which the CSR obligations under Section 135
become effective ?
A. The CSR obligations become effective from April 1, 2014. The CSR
obligations come into force from FY 2014-15.
Q. Will a loss-making company get “CSR credits” based on “average
net losses of past 3 years” which it can “carry forward” and set off
against its future years CSR obligations when it turns positive again ?
A. No
Q. If Company has made CSR spend of 3% of average net profits in its
present financial year, can it make CSR spend of only 1% of average
net profits in next financial year ?
A. There is no provision for set-off of excess spend in one year against
shortfall in spend in the next financial year.
9th May, 2014
30. CS Jatin Jalundhwala
FAQs on CSR
Q. In case of a group company comprising a holding company and its
subsidiaries, what if individual members of the groups haven’t
achieved targeted CSR spends of 2% of ANP but the CSR spends of
the group as a whole meets 2% of average net consolidated profits ?
A. There is no provision to compute the 2% target as 2% of average of net
consolidated profit of the group as a whole.
Q. Is pooling of CSR spends by two or more companies allowed ? It
so will 2% of ANP be computed company-wise or in the aggregate for
pooling companies ?
A. Pooling is allowed. However, 2% of ANP to be worked out company-
wise.
9th May, 2014
31. CS Jatin Jalundhwala
Penalties & Punishments
Punishment for contravention of Section 166 (Duties of
Directors)
o Section 166 (7) provides that if a director contravenes the
provisions of Section 166 such director shall be punishable with
fine which shall not be less than one lakh rupees but which may
extend to five lakh rupees.
Punishment for contravention of Section 134(3)(o) regarding
CSR disclosures in Board’s report.
o Fine which shall not be less than Rs. 50,000/- but which may
extend to Rs. 25,00,000/- and
o Every officer who is in default shall be punishable with
imprisonment for a term which may extend to 3 years or with fine
which shall not be less than Rs. 50,000/- but which may extend to
Rs. 5,00,000/- or with both – Section 134(8).
9th May, 2014
32. CS Jatin Jalundhwala
Penalties & Punishments
Punishment for contravention of Section 135
o There is no specific punishment provided for defaulting on CSR
spends obligations.
o So, such defaults attracts punishment under Section 450 titled
“Punishment where no specific penalty or punishment is provided”
which provides for -
fine which may extend to Rs. 10,000/- and
Where contravention is a continuing one, with a further fine
which may extend to Rs. 1,000/- for every day during which
contravention continues.
There is no provision empowering the Central Government to
take coercive recovery steps to recover shortfall in CSR from
defaulting companies.
9th May, 2014
33. CS Jatin Jalundhwala
Tax Benefits of CSR ?
o New Draft of DTC code issued on 31st March, 2014 by CBDT :
The CSR expenditure cannot be allowed as a business deduction
as it is an application of income.
o Allowed as Deduction from Book Profits
o S. 80G available only to Trusts / Co. – 50%
9th May, 2014
34. CS Jatin Jalundhwala
Issues……
o Hard earned money goes for community development which is the
responsibility of the State.
o Companies are already paying huge taxes by way of Income Tax,
Excise, CST, VAT, Service Tax, Customs Duty, Entry Tax apart
from various fees and levies.
o By making the companies incur CSR through law, can it be
perceived as an indirect levy ?
o Mandatory 2% to be spent on social welfare activities through law
– can it be seen as a tax on profits and if so can it be through the
Companies Act ?
9th May, 2014
35. CS Jatin Jalundhwala
Conclusion ……
o Corporates are already engaged in CSR.
o Mandated CSR creates issues of perfunctory compliance as
against dedicated CSR.
o Controls and costs
o Judgemental errors
o Misuse by local groups
o Local politics
o Misuse by corporate sector
9th May, 2014