Question
The provisions related to CSR are given under which
section of the Companies Act 2013? Read the following passage and answer the next 4 question The Companies Act 2013 had introduced several new provisions which changed the face of Indian corporate business. One of such new provisions was the Corporate Social Responsibility (CSR). The concept of CSR rests on the ideology of give and take. Companies take resources in the form of raw materials, human resources etc. from the society. By performing the task of CSR activities, the companies are giving something back to the society. CSR is the integration of socially beneficial programs and practices into a corporation's business model and culture. India is one of the first countries in the world to make CSR mandatory for companies following an amendment to the Companies Act, 2013 in 2014. Under the Companies Act, businesses can invest their profits in areas such as promoting rural development in terms of healthcare, sanitation, education including skill development, environmental sustainability, etc.Solution
The CSR provisions are covered under the 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)
The most abundant mineral nutrient in plant is
Who is the current minister of Agriculture and Farmers’ Welfare Ministry?
In the context of irrigation scheduling, what does the “IW/CPE ratio” represent?
Which is the name of subscheme launched with the outlay of 6000cr
_______ is the general term for a buying and selling process that is supported by electronic means.
Consider the following statements in reference to cross pollinated crops.
A. Inbred lines based single cross hybrid is homozygous and homogeneous...
Which variety of Sorghum exhibits tolerance to drought and salinity?
As per the classification of International Society of Soil Science, the silt particles comes in (diameters in mm)
Little leaf in cotton is due to the deficiency of
Which major weed species is becoming increasingly resistant to Isoproturon in wheat fields of North India, posing a challenge for effective weed control?
