TaxTMI 
TaxTMI 
TaxTMI 
Concessions to Corporate Sector
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....oncessions to Corporate Sector <br>News and Press Release<br>Dated:- 5-12-2015<br><BR>The Ministry of Corporate Affairs has notified Companies (Corporate Social Responsibility Policy) Rules, 2014 (htt....
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....p://www.mca.gov.in), which prescribes the format for disclosure of utilisation of Corporate Social Responsibility (CSR) funds by the companies. There are no specific tax exemption/concessions to comp....
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....anies under the Income Tax Act, 1961 for expenditure incurred by companies towards CSR. However, spending by companies on several activities like rural development projects, skill development projects....
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...., agricultural extension projects, contribution to Prime Minister's National Relief Fund etc., which find place in Schedule VII of the Companies Act, 2013, may qualify for tax exemptions under relevan....
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....t provisions of Income Tax Act, 1961 subject to the fulfilment of any specified conditions. This Ministry administers the Companies Act, which does not deal with employment policy of corporates. The....
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.... rate of growth of corporates in various States during each of the last three financial years, State/UT-wise is given in Annex. This Ministry neither deals with priority sector nor with the investmen....
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....t policy of the companies. This was stated by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Lok Sabha.<BR> News - Press release - PIB....