Incorporation of the Corporate Social Responsibility Provision in the New Companies Bill

Incorporation of the Corporate Social Responsibility Provision in the New Companies Bill https://www.taxtmi.com/news?id=4236 Clause 135 requires specified companies to allocate a fixed proportion of average net profits to activities under Schedule VII and to formulate a CSR policy; if the prescribed expenditure is not made, companies must disclose reasons for the shortfall in the Board's Report, and failure to make that disclosure attracts liability under the Companies Bill's disclosure provisions. en-us Tue, 11 Dec 2012 10:38:37 +0530 Tue, 11 Dec 2012 10:38:37 +0530 TaxTMI RSS Generator Incorporation of the Corporate Social Responsibility Provision in the New Companies Bill https://www.taxtmi.com/news?id=4236 Clause 135 requires specified companies to allocate a fixed proportion of average net profits to activities under Schedule VII and to formulate a CSR policy; if the prescribed expenditure is not made, companies must disclose reasons for the shortfall in the Board's Report, and failure to make that disclosure attracts liability under the Companies Bill's disclosure provisions. News - Tue, 11 Dec 2012 10:38:37 +0530 https://www.taxtmi.com/news?id=4236