https://www.taxtmi.com/news?id=13269 Section 181 authorises the Board of Directors to contribute to bona fide charitable and other funds but requires prior shareholder approval where the aggregate contribution in any financial year exceeds five percent of the company's average net profits for the three immediately preceding financial years. All contributions by a registered company must be reflected in the company's accounts, ensuring mandatory disclosure and accounting compliance. en-us Fri, 08 Aug 2014 17:03:40 +0530 Fri, 08 Aug 2014 17:03:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=13269 Section 181 authorises the Board of Directors to contribute to bona fide charitable and other funds but requires prior shareholder approval where the aggregate contribution in any financial year exceeds five percent of the company's average net profits for the three immediately preceding financial years. All contributions by a registered company must be reflected in the company's accounts, ensuring mandatory disclosure and accounting compliance. News - Fri, 08 Aug 2014 17:03:40 +0530 https://www.taxtmi.com/news?id=13269