The Ministry of Corporate Affairs (MCA) on Monday MCA amended Schedule VII of Companies Act, 2013 and to include more entities engaged in research and development to whom contribution will be treated as Contribution for...
The Ministry of Corporate Affairs (MCA) on Monday notified Research & Development for the COVID-19 vaccine, drugs, and medical devices included in Corporate Social Responsibility (CSR). The notification seeks to amend the Companies (Corporate Social...
The Supreme Court on Monday dismissed the plea filed by the TMC MP Mahua Moitra challenging Central Government’s circular excluding Chief Minister’s Relief Fund from the purview of Corporate Social Responsibility (CSR). The plea stated...
In a Relief to Goldman Sachs, the Income Tax Appellate Tribunal (ITAT), Bangalore Bench held that Corporate Social Responsibility (CSR) is also eligible for deduction under Section 80G of Income Tax Act subject to assessee...
The Institute of Chartered Accountants of India ( ICAI ) has said that the Companies should obtain Chartered Accountants / Auditor’s Report on the utilization of CSR Funds If CSR Activity is done through a...
The Ministry of Corporate Affairs (MCA), on Friday, issued circular addressing Frequently Asked Questions (FAQs) on Corporate Social Responsibility (CSR) related to COVID-19. Like all other public agencies, MCA has been taking a series of steps...
The Ministry of Corporate Affairs ( MCA ) has issued clarifications on the spending of Corporate Social Responsibility (CSR) Funds for Coronavirus ( COVID-19 ) so it is a Corporate Social Responsibility (CSR) Activity. The...
Amendment to the Companies Act, 2013 (‘the Act’) seems to be a routine activity of the Government. The Act was amended by the Companies Amendment Act, 2015, 2017, 2019 and now, in 2020 (as proposed)....
The Government of India has introduced the Companies (Amendment) Bill, 2020 in Lok Sabha with the motive to decriminalise the procedural lapses. The Government of India with the objective to ease the Corporate Social Responsibility...
The sanction for prosecution in violation of Corporate Social Responsibility ( CSR) provisions has been accorded in 366 cases besides 121 applications for compounding have been made and 37 cases have been compounded. All CSR...
The Ministry of Corporate Affairs (MCA) has proposed to increase the monitoring of CSR projects. On a circular issued on 13th March, 2020 invited public comments on the companies (Corporate Social Responsibility Policy) Amendment Rules,...
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the registration under Section 12AA of the Income Tax Act, 1961 cannot be denied to the applicant merely because it was established...
A High-Level Committee on Corporate Social Responsibility – 2018 (HLC-2018) has been constituted under the Chairmanship of Shri. Injeti Srinivas, Secretary, Ministry of Corporate Affairs (MCA) to review the existing framework and guide and formulate...
The Mumbai bench of the Customs Excise & Service Tax Appellate Tribunal ( CESTAT ) has held that a Company is eligible for the Cenvat Credit in respect of the payments made towards the fulfilment...
The Minister of Corporate Affairs ( MCA ) has constituted a Committee on Corporate Social Responsibility (CSR). In an office order dated on 04.04.2018 said that the Committee will be headed by Shri. Manmohan Juneja,...
The Institute of Chartered Accountants of India (ICAI) is all set to revise the syllabus for CA examinations so as to incorporate the new indirect tax law, ie, Goods and Services Tax (GST) and corporate...
Section 135 (1) of the Companies Act, 2013 mandates every company with a turnover of Rs. 1000 crores or more; or a net worth of Rs. 500 crores or more; or a net profit of...
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