https://www.taxtmi.com/acts?id=17432 Companies meeting statutory financial thresholds must constitute a Corporate Social Responsibility Committee to recommend and monitor a CSR Policy and expenditure. The Board must approve, disclose and implement the Policy, ensure at least two per cent of average net profits of the preceding three financial years is spent on CSR (with prescribed calculation rules), allow set offs for excess spend, transfer unspent amounts for ongoing projects into an Unspent CSR Account to be spent within three years or else to a Fund in Schedule VII, and face penalties and central directions for noncompliance. en-us Sat, 02 Mar 2013 12:24:19 +0530 Fri, 05 Dec 2025 17:27:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=17432 Companies meeting statutory financial thresholds must constitute a Corporate Social Responsibility Committee to recommend and monitor a CSR Policy and expenditure. The Board must approve, disclose and implement the Policy, ensure at least two per cent of average net profits of the preceding three financial years is spent on CSR (with prescribed calculation rules), allow set offs for excess spend, transfer unspent amounts for ongoing projects into an Unspent CSR Account to be spent within three years or else to a Fund in Schedule VII, and face penalties and central directions for noncompliance. Act-Rules Companies Law Sat, 02 Mar 2013 12:24:19 +0530 https://www.taxtmi.com/acts?id=17432