https://www.taxtmi.com/article/detailed?id=12720 Section 135 of the Companies Act mandates that companies meeting prescribed financial thresholds constitute a Board-level Corporate Social Responsibility Committee to formulate, recommend and monitor a CSR policy aligned with activities listed in Schedule VII. The Board must report CSR policy and implementation under Section 134, allocate a prescribed proportion of average net profits for CSR spending with local-area preference, may set off excess expenditure against future obligations as prescribed, and must account for or transfer unspent amounts to specified funds within the statutory timeframe. en-us Fri, 21 Jun 2024 08:20:21 +0530 Fri, 21 Jun 2024 08:20:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12720 Section 135 of the Companies Act mandates that companies meeting prescribed financial thresholds constitute a Board-level Corporate Social Responsibility Committee to formulate, recommend and monitor a CSR policy aligned with activities listed in Schedule VII. The Board must report CSR policy and implementation under Section 134, allocate a prescribed proportion of average net profits for CSR spending with local-area preference, may set off excess expenditure against future obligations as prescribed, and must account for or transfer unspent amounts to specified funds within the statutory timeframe. Articles Corporate Laws / IBC / SEBI Fri, 21 Jun 2024 08:20:21 +0530 https://www.taxtmi.com/article/detailed?id=12720