Taxmann Corporate Social Responsibility Law & Practice by Rajesh S. Kadakia Edition 2022

This book provides a comprehensive analysis of Corporate Social Responsibility (CSR) provisions in the following:

• Companies Act, 2013
• Companies (Corporate Social Responsibility Policy) Rules, 2014

The Present Publication is the latest 2022 Edition, authored by Rajesh S. Kadakia, with the following noteworthy features:

• [Updated CSR Compliance Requirements] are provided in this book
• [Explaination of CSR Provisions] with a fresh perspective & illustrations
• [Carefully Crafted to provide Insights on Complex Topics] such as:
• Activities that are regarded as CSR
• Different Applicability Criteria
• CSR Committee
• CSR Policy
• Roles & Responsibilities of Board of Directors
• Calculation of the Quantum of Spending on CSR
• Approved Modes of incurring CSR Expenditure
• Impact Assessment
• [Applicability of CSR Provisions to Section 8 & Foreign Companies] along with disclosure requirements, reports/certificates and consequences of default is also included in this book
• [Accounting Aspects & Income-tax Provisions] and interpretation regarding the deductibility of CSR expenditure is also covered in this book

This book also consists of the following:

• Relevant Section of the Companies Act, 2013
• Schedule VII of the Companies Act, 2013
• Companies (Corporate Social Responsibility Policy) Rules, 2014
• Relevant Notifications under Companies Act, 2013
• Relevant Circulars/Clarifications under the Companies Act, 2013

The detailed contents of this book are as follows:

• Background, text, applicability and actions required upon the applicability
• Applicability to ‘every company’ fulfilling one of the criteria in section 135
• Applicability of section 135 to holding company or subsidiary company of a company to which section 135(1) is applicable
• CSR – Net worth criterion
• Net profits criterion (Profitability)
• Turnover criterion
• Financial year – Meaning
• CSR committee
• CSR policy
• Corporate social responsibility (CSR)
• Board of directors
• Quantum of spending on CSR (2% of average net profits plus surplus from CSR activity)
• CSR expenditure
• Implementation of CSR activities
• Preference to a local area of operation and area around it
• Impact assessment
• Ongoing project
• Implementation through implementing agencies
• Companies licensed under section 8 of the Companies Act, 2013 or section 25 of the Companies Act, 1956
• Activities under Schedule VII of the Companies Act, 2013
• Applicability to a foreign company
• Miscellaneous
• Accounting
• Disclosure requirements
• Reports and certificates
• Consequences of defaults in spending on CSR activities
• CSR – Deductibility of CSR expenses under the Income-tax Act, 1961
• CSR – Deductibility of CSR expenditure under section 80G of the Income-tax Act, 1961

About the author

Rajesh S. Kadakia, B.Com, FCA, was a partner in M/s S. R. Batliboi & Associates, an Ernst & Young Global member firm. He has written several books, including the following:

• ‘The Law and Practice of Tax Treaties: An Indian Perspective’ (2008)
• ‘Amalgamation of Companies’ (1994) published by Taxmann
• ‘Master Guide to Income-tax Act’ (from 1991 to 2012) published by Taxmann

He is the author of various online databases (www.legatax.in), including

• Charitable Institutions Referencer (CIR) on taxation of charitable institutions
• Foreign Contribution Regulations Act Referencer (FCRAR)
• Words & Phrases Referencer (WPR), a legal dictionary
• Interpretation Referencer (IR)