Corporate Social Responsibility

Reliance Industries contributes Rs 1,185 cr towards CSR initiatives in FY22

The CSR initiatives were spearheaded by Reliance Foundation, the philanthropic arm of Reliance Industries, led by Founder and Chairperson of the foundation Nita M. Ambani

IIT Madras raises all-time high sum of Rs 131 cr from alumni, firms in FY22

Number of firms donating to IIT Madras via CSR route has almost doubled in past five years; account for nearly half the total Rs 131 crore raised last financial year.

4-5% of Rs 1.25 trn spent on CSR funds in past 7 yrs went to PM Cares: Govt

Singh said it is a broad-based activity that the Board undertakes and we give general guidelines and the Board implements it

What is corporate social responsibility?

Govt had in February this year asked India Inc to furnish a report on their corporate social responsibility (CSR) activities. From being a voluntary exercise, it has been made mandatory by the govt

CSR spending on the rise but not equitable, skewed towards three sectors

Six states account for a third of total CSR spending; three sectors account for 59.9 per cent of funding.

Onerous disclosures

New CSR reporting requirements raise tricky issues

New CSR disclosure framework to enhance transparency: Govt official

In 2019-20 financial year, the CSR expenditure stood at Rs 24,864 crore; As per data available on the portal, the total CSR spending in the last two financial years is more than Rs 45,200 crore

New CSR form to enhance corporate compliance, help govt in keeping a tab

The government had mandated that Corporate India publish a comprehensive report on their specific CSR initiatives.

How well Indian companies are meeting their CSR commitment?

The CII on Monday asked the government to consider increasing the CSR levy by 1% for a year, and use the money to give boosters shots. But is India Inc loosening its purse strings for social causes?

Budget 2022-23: CII seeks additional 1% CSR for Covid-19 boosters

The industry lobby group also said the Budget expected to focus on ways to strengthen economic recovery

Expense on R&D for Covid-19 drugs, vax, devices will count as CSR

The CSR FAQs provide details of what would qualify as administrative overheads

CSR spending not source of financing resource gaps in govt schemes: MCA

Corporate Social Responsibility spending under the companies law should not be interpreted as a source of financing the resource gaps in government schemes, the Ministry of Corporate Affairs has said as it issued a detailed set of FAQs for the effective implementation of CSR norms. Activities undertaken by companies as part of the normal course of business is not considered CSR work. However, the ministry has provided an exemption for companies engaged in R&D activities for new vaccines, drugs and medical devices in their normal course of business with respect to COVID. The exemption would be in place for three financial years till FY 2022-23, as per the FAQs (Frequently Asked Questions) dated August 25. "This exclusion is allowed only in case the companies are engaged in R&D in collaboration with organisations as mentioned in item (ix) of Schedule VII and disclose the same in their board reports," the ministry said. The organisations are specified under item ix of Schedule ...

Industrialist Siddharth Shriram's zest for life: A son remembers

A writer on a wide variety of issues as a result of his interest in creating construct­ive debate for challenges facing India, he was instrumental in founding Delhi Policy Group

Contradictory AAR verdicts on CSR under GST regime baffle companies

Recently, the Uttar Pradesh AAR had held that CSR spend by companies is eligible for input tax credit

Govt mandates companies to disclose investments in cryptocurrencies

Govt asks companies to also reveal CSR spend, benami property transactions from FY22

CSR funds not used for implementing govt schemes: MoS Finance

The government said CSR funds are not used for implementing the government's central schemes.

India's new CSR regulations make philanthropy compulsory for companies

New CSR rules replacing comply-or-explain regulations with a mandatory regimen have raised the stakes for large corporations

Companies can't hold capital assets created with CSR funds: Experts

If such capital expenditure was incurred as part of CSR in the past, the assets need to be transferred within six months.

Trusts and societies have till April 1 to register with MCA under CSR rules

CSR rules notified by MCA; multi-year projects allowed with a time-limit of three years

Govt amends CSR rules; allows cos to undertake multi-year projects

The government on Friday amended various rules pertaining to the CSR regime