CSR activities
In a noteworthy announcement made by Finance Minister Arun Jaitley during the course of his Budget speech on Thursday, ‘slum development’ will henceforth be treated as one of the Corporate Social Responsibility (CSR) activities. The Finance Minister’s move to include ‘slum development’ as a CSR activity will essentially work as a supplement to the ongoing [...] Continue Reading »
The ministry of corporate affairs issued some clarifications in response to queries from stakeholders and made it clear that slum-redevelopment, road safety awareness and consumer protection services will be treated as Corporate Social Responsibility (CSR) activities. BJP’s election manifesto shouted loud and clear ‘’housing for all by 2022’’. The ministry, in a circular, has clarified [...] Continue Reading »
Spending in Corporate Social Responsibilities (CSR) has been a new trend by the MNCs in the last few years. They want to give back to the society from where they are making whopping profits. According to the consultancy firm Ernst & Young (E & Y), the provisions of the recently amended Companies Act make it [...] Continue Reading »
The Housing Infrastructure Development Corporation (Hidco), a government company under the Companies Act, has become one of the first amongst government undertaking companies to come up with a number of CSR activities that they will implement following the decision to make it mandatory for all companies to satisfy certain criteria to invest 2% of its [...] Continue Reading »
The new company law in India has a mandate for a few qualified companies to spend 2% of profit on CSR. However, it is proving very difficult for companies with an overseas stakeholding of more than 50% to do just that. Such companies cannot set up CSR foundations because donations from such companies are treated [...] Continue Reading »
