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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Ministry Clarifies CSR Rules: No Tax Exemptions, Board Role Emphasized, Align with Schedule VII, Not Business Expense.</h1> The circular issued by the Ministry of Corporate Affairs addresses frequently asked questions regarding Corporate Social Responsibility (CSR) under Section 135 of the Companies Act, 2013. It clarifies the applicability of CSR provisions to companies meeting specific financial criteria and outlines that CSR expenditure cannot be claimed as business expenditure. The document specifies that CSR activities must align with Schedule VII of the Act, and no specific tax exemptions are available for CSR spending. It also details the non-qualifying CSR activities and emphasizes the role of company boards in CSR policy approval and implementation. The government does not monitor CSR compliance but encourages companies to engage in socially responsible activities independently.
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