WebFeb 14, 2024 · For e.g. if a company has spent Rs. 11.8 Lakh (including GST) in form of CSR and it has claimed ITC of GST paid (say 18% i.e. Rs. 1.8 Lakh) by it, effectively … Web1 day ago · ITAT Mumbai held that expenditure incurred towards Corporate Social Responsibility are specifically disallowed as per explanation 2 to Section 37(1) of the Income Tax Act. Facts- AO disallowed Rs. 74.32 Lakhs being expenditure incurred towards Corporate Social Responsibility. AO disallowed the said claim by invoking provisions …
Understanding CSR Provisions by tax guru - Issuu
WebFeb 9, 2024 · The Government of India notified amendments to the Companies (Corporate Social Responsibility) Rules, 2014 and Section 135 of the Companies Act, 2013 on January 22nd, 2024, which means that … Web(5) read with the CSR Rules. Can the CSR expenditure be claimed as a business expenditure? [corresponding to FAQ No. 3] It has been clarified that the amount spent by a Company towards CSR cannot be claimed as business expenditure. The Finance (No. 2) Act, 2014 [Income-tax Act, 1961 (Act)] provides that expenditure incurred by flushing tanks in sewer
Clarity on Section 115BA , 115BAA, 115BAB of Income Tax Act
WebMar 13, 2024 · Mabry Tax Advisory Group. Feb 2024 - Present1 year 2 months. Milton, Georgia, United States. Successfully managed to prepare and file hundreds of individual … WebJun 28, 2024 · The Companies Act, 2013, a successor to The Companies Act, 1956, made CSR a compulsory act. Under the notification dated 27.2.2014, under Section 135 of the new act, CSR is compulsory for all companies- government or private or otherwise, provided they meet any one or more of the following fiscal criterions [9]: WebApr 14, 2024 · CSR-2 (e-form) Every company covered under the provisions of sub-section (I) to section 135 shall furnish a report on Corporate Social Responsibility in Form CSR-2 to the Registrar. addendum to Form AOC-4 or AOC -4 XBRL filled within 30 days from the date of AGM: Section 135 of the Companies Act, 2013: 21: Board Meetings of Director … flushing taxi