Comments
Corporate contributions towards Narendra Modi-led Government’s two key initiatives of Swachh Bharat and Clean Ganga will now be counted as CSR spend.
The Corporate Affairs Ministry has amended Schedule VII of Companies Act to specify that contributions to ‘Swachh Bharat Kosh’ and ‘Clean Ganga Fund’ would be eligible CSR spend.
New frameworkUnder the CSR framework, certain companies have to fork out 2 per cent of their three-year average annual net profit towards CSR activities.
The mandatory CSR norm applies to companies having at least ₹5 crore net profit, ₹1,000-crore turnover or ₹500 crore net worth. The CSR framework came into effect from April 1 this year after the enactment of a new company law in 2013.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.