TaxTMI 
TaxTMI 
Definitions
X X X X Extracts X X X X
X X X X Extracts X X X X
.... appended to these rules; (d) "Corporate Social Responsibility (CSR)" means the activities undertaken by a Company in pursuance of its statutory obligation laid down in section 135 of the Act in accordance with the provisions contained in these rules, but shall not include the following, namely:- (i) activities undertaken in pursuance of normal course of business of the company: Provided that any company engaged in research and development activity of new vaccine, drugs and medical devices in their normal course of business may undertake research and development activity of new vaccine, drugs and medical devices related to COVID-19 for financial years 2020-21, 2021-22, 2022-23 subject to the conditions t....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... (g) "International Organisation" means an organisation notified by the Central Government as an international organisation under section 3 of the United Nations (Privileges and Immunities) Act, 1947 (46 of 1947), to which the provisions of the Schedule to the said Act apply; (h) "Net profit" means the net profit of a company as per its financial statement prepared in accordance with the applicable provisions of the Act, but shall not include the following, namely: - (i) any profit arising from any overseas branch or branches of the company, whether operated as a separate company or otherwise; and (ii) any dividend received from other companies in India, which are covered under and complying with the prov....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ned in these rules but defined in the Act shall have the same meanings respectively assigned to them in the Act. ] ************** NOTES:- 1. Inserted vide Notification No. G.S.R. 895 (E) date 19-09-2018 2. Substituted vide Notification No. G.S.R. 895 (E) date 19-09-2018 before it was read as, "cover subjects enumerated" 3. Substituted vide Notification No. G.S.R. 895 (E) date 19-09-2018 before it was read as, "company as" 4. Inserted vide Notification No. G.S.R. 526(E) dated 24-08-2020 5. Substituted vide Notification No. G.S.R. 40(E) dated 22-01-2021 before it was read as, "2. Definitions.- ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....- (i) such research and development activities shall be carried out in collaboration with any of the institutes or organisations mentioned in item (ix) of Schedule VII to the Act. (ii) details of such activity shall be disclosed separately in the Annual Report on CSR included in the Board's Report] (f) "Net profit" means the net profit of a company as per its financial statement prepared in accordance with the applicable provisions of the Act, but shall not include the following, namely :- (i). any profit arising from any overseas branch or branches of the company, whether operated as .a separate company or otherwise; and (ii) any dividend received from other companies in India, which. Are covere....