Companies Must Form CSR Committee Based on Previous Year's Profit as per Companies Act Section 135(1) Amendment.

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Full Text of the Document

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....Who is required to Constitute a Corporate Social Responsibility Committee - the conditions of net profit of rupees five crore or more - provision relaxed - for the words "any financial year", the words "the immediately preceding financial year" substituted - Section 135(1) of the Companies Act, 2013....