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Whether it is mandatory for companies to carry out CSR in their local areas?

Whether it is mandatory for companies to carry out CSR in their local areas?

The first provison to section 135(5) of the Act provides that the company shall give preference to local areas and the areas around where it operates. Some activities in Schedule VII such as welfare a...

Posted on: 11 months ago

If a company cannot take the benefit of set off of excess amount spent in the previous financial year because of nonapplicability of CSR provisions, will the excess amount lapse?

If a company cannot take the benefit of set off of excess amount spent in the previous financial year because of nonapplicability of CSR provisions, will the excess amount lapse?

Yes, the law states that the excess CSR amount spent can be carried forward up to immediately succeeding three financial years; thus, in case any excess amount is left for set off, it will lapse at th...

Posted on: 11 months ago

If a company spends more than the requirement provided under section 135, can that excess amount be set off against the mandatory 2% CSR expenditure in succeeding financial years?

If a company spends more than the requirement provided under section 135, can that excess amount be set off against the mandatory 2% CSR expenditure in succeeding financial years?

Yes, the excess amount can be set off against the required 2% CSR expenditure up to the immediately succeeding three financial years subject to compliance with the conditions stipulated under rule 7(3...

Posted on: 11 months ago

Are administrative overheads applicable only for expenses incurred by the company, or can they be applied to expenses incurred by the implementing agency as well?

Are administrative overheads applicable only for expenses incurred by the company, or can they be applied to expenses incurred by the implementing agency as well?

According to rule 2(1)(b) of the Companies (CSR Policy) Rules, 2014, administrative overheads mean the expenses incurred by the company in the general management and administration of CSR functions in...

Posted on: 11 months ago

Trusts – Be eligible to receive CSR

Trusts – Be eligible to receive CSR

As per guidelines issued by MCA, From 1st April 2021, CSR Funding will be released only to that NGOs, Trusts, Religious Trusts, Societies, 12AA registered entities, 80 G granted entities, Section 8 Co...

Posted on: 1 year ago

FCRA rules: Govt extends validity of registration certificates for NGOs till September 30

FCRA rules: Govt extends validity of registration certificates for NGOs till September 30

The government has made an important announcement regarding the Foreign Contribution Regulation Act for non-profit organisations (NGOs). It has decided to extend the validity of registration certifica...

Posted on: 1 year ago

Why nonprofits should have a strong online presence?

Why nonprofits should have a strong online presence?

Nonprofits should adapt to technology and start raising online donations. Donorbox is one of the promising online donation platforms widely used. Donorbox is an efficient online donation software that...

Posted on: 1 year ago

Enterprises for Women’s Self-help Groups

Enterprises for Women’s Self-help Groups

In Tamil Nadu, most women are dependent on agriculture for sustenance. But climate change is turning once-lush fields into wastelands during the dry months, and increased flooding often washes away th...

Posted on: 1 year ago

NGO comes to aid of needy, performs free cremation.

NGO comes to aid of needy, performs free cremation.

Ludhiana: Cash-starved families of the district that have lost their loved ones can now seek help of Shri Sanatan Dharam Sabha, which runs Shivpuri crematorium near Kamla Lohtia College.The members of...

Posted on: 1 year ago

NGOs, social volunteers may be called in for assistance during COVID pandemic: Jitendra Singh

NGOs, social volunteers may be called in for assistance during COVID pandemic: Jitendra Singh

To solve the problem of lack of human resource, non-government organisations and social volunteers may be called to assist in the fight against the COVID-19 pandemic, Union Minister Jitendra Singh sai...

Posted on: 1 year ago