New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    The Provision for Corporate Social Responsibility (CSR)

    is in:
    A Banking Regulation Act, 1949 Correct Answer Incorrect Answer
    B Society Registration Act, 1860 Correct Answer Incorrect Answer
    C Income Tax Act, 1961 Correct Answer Incorrect Answer
    D Companies Act, 2013 Correct Answer Incorrect Answer
    E Reserve Bank of India Act, 1934 Correct Answer Incorrect Answer

    Solution

    Corporate Social Responsibility (CSR) is a norm under section 135 of Companies Act 2013. Under this a company (beyond a prescribed size) has to spend 2% of average annual profit of last three years in social developmental activities like health, education, skill training etc.

    Practice Next