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What is CSR according to Companies Act 2013?
The Indian Companies Act 2013 makes Corporate Social Responsibility (CSR) compliance mandatory for any company, whether private, public, foreign, or even a nonprofit company registered under Section 8, if the company has particular profit, turnover, or net-worth.
What is CSR in India PPT?
World Business Council for Sustainable Development defined CSR as “the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large.”
What are CSR rules in India?
The rules under Section 135 of Companies Act, 2013 made it mandatory for companies with certain net worth, turnover or profitability during the immediately preceding financial years, to spend two percent of their average net profit for the past three years on CSR.
What is CSR in India PDF?
The WBCSD defines CSR as “the continuing commitment. by business to contribute to economic development while improving the quality of life of the. workforce and their families as well as of the community and society at large.”
What is CSR criteria?
Section 135 of the Companies Act 2013 provides the threshold limit for applicability of the CSR to a Company: (a) net worth of the company to be Rs 500 crore or more; or (b) turnover of the company to be Rs 1000 crore or more; or (c) net profit of the company to be Rs 5 crore or more.
What are the types of CSR?
Corporate social responsibility is traditionally broken into four categories: environmental, philanthropic, ethical, and economic responsibility.
- Environmental Responsibility.
- Ethical Responsibility.
- Philanthropic Responsibility.
- Economic Responsibility.
What is the limit of CSR?
What are the new CSR rules?
CSR Reporting Amendments Every company with an average CSR obligation of Rs. 10 crore or more should undertake impact assessment through an independent agency for the CSR projects with outlays of Rs. 1 crore or more and completed within one year of undertaking the impact study.