Question
Which section of the Companies Act 2013 deals with the
provisions of Corporate Social Responsibility?Solution
The CSR provisions are covered under Section 135 and Schedule VII of the Companies Act, 2013. As per the provisions of this section, a Company having Net worth of · Rs.500 crore or more, or · Turnover of Rs.1000 crore or more or · net profit of Rs.5 crore or more in previous financial year, should: · Constitute a CSR Committee (consisting of 3 or more directors of which at least 1 is independent director) and · spend at least 2% of the average net profits of three immediately preceding years on CSR activities (companies which spend any amount in excess of their CSR obligation in a financial year can set off the excess amount towards their CSR obligations in subsequent financial years).
If an employer transfers second hand motor car to the employee, the perquisite is valued at:
At the end of the accounting year the capital expenditures are shown in the:
Read the following information to answer the below questions:
A company values inventory at lower of cost and NRV. Cost per unit = ₹150, NRV per unit = ₹140. For 5,000 units, calculate value as per Ind AS 2.
Which of the following is not considered a general consideration before sourcing accounting software?
What does the term "NEFT" stand for in the context of Indian banking?
Company A absorbs Company B. Purchase consideration is settled partly in cash and partly in shares. Which accounting method is used if the takeover is i...
Gifts not exceeding_____in value in a financial year by an employer to an employee shall not be treated as supply of goods or services or both.
What is Government e-Marketplace (GeM)?
Given:
• Net income: ₹30 lakh
• Depreciation: ₹10 lakh
• Increase in inventory: ₹5 lakh
• Decrease in payables...
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