Taxmann Corporate Social Responsibility – Law & Practice by Rajesh S Kadakia 1st Edition January 2022

This book provides a comprehensive analysis of Corporate Social Responsibility (CSR) provisions in the following:

• Companies Act, 2013
• Companies (Corporate Social Responsibility Policy) Rules, 2014

The Present Publication is the latest 2022 Edition, authored by Rajesh S. Kadakia, with the following noteworthy features:

• [Updated CSR Compliance Requirements] are provided in this book
• [Explaination of CSR Provisions] with a fresh perspective & illustrations
• [Carefully Crafted to provide Insights on Complex Topics] such as:
  • Activities that are regarded as CSR
  • Different Applicability Criteria
  • CSR Committee
  • CSR Policy
  • Roles & Responsibilities of Board of Directors
  • Calculation of the Quantum of Spending on CSR
  • Approved Modes of incurring CSR Expenditure
  • Impact Assessment
• [Applicability of CSR Provisions to Section 8 & Foreign Companies] along with disclosure requirements, reports/certificates and consequences of default is also included in this book
• [Accounting Aspects & Income-tax Provisions] and interpretation regarding the deductibility of CSR expenditure is also covered in this book
• This book also consists of the following:
  • Relevant Section of the Companies Act, 2013
  • Schedule VII of the Companies Act, 2013
  • Companies (Corporate Social Responsibility Policy) Rules, 2014
  • Relevant Notifications under Companies Act, 2013
  • Relevant Circulars/Clarifications under the Companies Act, 2013

The detailed contents of this book are as follows:

• Background, text, applicability and actions required upon the applicability
• Applicability to ‘every company’ fulfilling one of the criteria in section 135
• Applicability of section 135 to holding company or subsidiary company of a company to which section 135(1) is applicable
• CSR – Net worth criterion
• Net profits criterion (Profitability)
• Turnover criterion
• Financial year – Meaning
• CSR committee
• CSR policy
• Corporate social responsibility (CSR)
• Board of directors
• Quantum of spending on CSR (2% of average net profits plus surplus from CSR activity)
• CSR expenditure
• Implementation of CSR activities
• Preference to a local area of operation and area around it
• Impact assessment
• Ongoing project
• Implementation through implementing agencies
• Companies licensed under section 8 of the Companies Act, 2013 or section 25 of the Companies Act, 1956
• Activities under Schedule VII of the Companies Act, 2013
• Applicability to a foreign company
• Miscellaneous
• Accounting
• Disclosure requirements
• Reports and certificates
• Consequences of defaults in spending on CSR activities
• CSR – Deductibility of CSR expenses under the Income-tax Act, 1961
• CSR – Deductibility of CSR expenditure under section 80G of the Income-tax Act, 1961