WebSep 15, 2016 · Corporate Social Responsibility. (1) Every company having net worth of rupees five hundred crore or more, or. turnover of rupees one thousand crore or more or 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 ... WebAug 2, 2024 · Ex: If a company incorporated in 2024 has earned net profit of Rs. 5 Crore in 2024-19, then CSR would be applicable for such companies in FY 2024-20 to spend 2% of average net profits as calculated under section 198 of immediately preceding financial years since incorporation. Such a company shall take 2% average of net profits u/s 198 …
Computation of Net Profit for CSR contribution as per …
WebJun 17, 2024 · The net worth, turnover or net profit of a foreign Company of the Act shall be computed in accordance with the balance sheet and Profit and loss account of such company prepared in line with the provisions of clause (a) of sub-section (1) of section 381 and section 198 of the Act. Calculation of Net Profit as per Section 198: WebApr 7, 2024 · Section 198. Calculation of Profits [Effective from 1st April, 2014] (1) In computing the net profits of a company in any financial year for the purpose of section … the group nyc
CSR Expenditure - CSR amount calculation, Policies for …
WebApr 11, 2024 · 1) In computing the net profits of a in any for the purpose of section 197,— (a) credit shall be given for the sums specified in sub-section (2), and credit shall not be … WebMar 12, 2015 · Dear Vimal my doubt is depreciation is calculated as per schedule XIV for 3 preceding f.y, and . As per section 198 in making the computing of net profit, deduction of depreciation to the extent specified section 123 of ca 2013, means schedule II … WebJan 29, 2024 · Explanation.—For the purposes of this section “average net profit” shall be calculated in accordance with the provisions of section 198. Further Sec 198 (5)(a) says … the group number of an element tells you