CORPORATE SOCIAL CONTRIBUTION [CSR} – must be allowed in interest of business and society. Proposed amendment in section 37 deserves to be deleted.

CORPORATE SOCIAL CONTRIBUTION [CSR} – must be allowed in interest of business and society. Proposed amendment in section 37 deserves to be deleted. https://www.taxtmi.com/article/detailed?id=5734 A proposed statutory Explanation would declare expenditures on corporate social responsibility activities not to be expenditures for the purposes of business, thereby disallowing deductions for CSR spending covered by the Companies Act while non-CSR social spending may remain deductible if commercial expediency is demonstrated; this differential treatment risks discrimination and increased tax litigation and conflicts with the Companies Act's local-area preference and the commercial nexus of many Schedule VII activities. en-us Wed, 16 Jul 2014 06:06:35 +0530 Wed, 16 Jul 2014 06:06:35 +0530 TaxTMI RSS Generator CORPORATE SOCIAL CONTRIBUTION [CSR} – must be allowed in interest of business and society. Proposed amendment in section 37 deserves to be deleted. https://www.taxtmi.com/article/detailed?id=5734 A proposed statutory Explanation would declare expenditures on corporate social responsibility activities not to be expenditures for the purposes of business, thereby disallowing deductions for CSR spending covered by the Companies Act while non-CSR social spending may remain deductible if commercial expediency is demonstrated; this differential treatment risks discrimination and increased tax litigation and conflicts with the Companies Act's local-area preference and the commercial nexus of many Schedule VII activities. Articles Income Tax Wed, 16 Jul 2014 06:06:35 +0530 https://www.taxtmi.com/article/detailed?id=5734