Section 135

[Pooja Khurana]

Dear Friends,

CSR Rules are effective from 1st April 2014. 31st March 2014 will be the date for the purpose of “Block of 3 calendar years”.

it means that we will calculate three years profits preceding the financial year 2013-14. i.e. 2012-13,2011-12,2010-11.

other views solicited.

[ramela rangasamy]

 

Dear Friend,

I am also of the same opinion. CSR will get enforced w.e.f.01/04/2014.

I am having one more clarification about the requirement for reporting of the CSR in Directors Report prepared for the FY 2013-14.

In case the company spend any amount during the FY 2014-15 ie. before the date of approval of Directors Report 2013-14, it has to report of the same in the said Directors  Report and if nothing is spend, nill report has to be given.

Please clarify.

R.Ramela

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[Mirza Mohammed Ali Baig]

I have also the same query, learnt members are requested to reply the aforesaid query.

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Mirza Mohammed Ali Baig

[Simranjeet Singh]

Dear Mr. Ramela Rangasamy i agree with u regarding the block i.e will be 2011-12, 2012-13, 2013-14 for the purpose of CSR for Fy 2014-15.. but the requirement of reporting CSR will be applicable in FY 2014-15 when director report for the fy is to be prepared .. if spent disclosure required.. if not spent reason required..

 Thanks & Regards

 ACS Simranjeet Singh

 

[Rajesh Khandelwal]

Dear Members,

This is in reference to notification issued by the MCA for The Corporate Social Responsibility (Policy) Rules 2014 which shall be applicable w.e.f. April 1, 2014 as mentioned in the below link:

http://www.mca.gov.in/Ministry/pdf/CompaniesActNotification2_2014.pdf

The Corporate Social Responsibility (CSR) shall be applicable to every company having:

1. net worth of rupees five hundred crore or more, or
   
2. turnover of rupees one thousand crore or more or 
3. a net profit of rupees five crore or more during any financial year

shall constitute a Corporate Social Responsibility Committee of the Board consisting of three or more directors, out of which at least one director shall be an independent director 

as mentioned in section 135 of The Companies Act 2013 alongwith Schedule VII (new notification came which is mentioned in the below link, since substituted) for places where the 2% of the NET PROFIT  of the Company (Net Profit calculation as per section 198 of the said Act 2013 attached herewith)  shall be used  as per the CSR Policy of the Company.

http://mca.gov.in/Ministry/pdf/CompaniesActNotification3_2014.pdf

Every such Companies are also require to place the CSR policy of the Company on its website.

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Date: Tue, 4 Mar 2014 12:30:22 +0530
Subject: Re: [CSMysore] Section 135
From: beingcompa...@gmail.com
To: csmy...@googlegroups.com