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Should companies get tax benefits for doing CSR?

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  • karmayog - tanya
    Should companies get tax benefits for undertaking CSR? Should companies not doing CSR be fined? The government is considering various options on this, now that
    Message 1 of 2 , Feb 11, 2013
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      Should companies get tax benefits for undertaking CSR?
      Should companies not doing CSR be fined?
      The government is considering various options on this, now that CSR has been
      made mandatory as per the recently passed Companies Bill.

      Send your views to:

      1.
      Shri Sachin Pilot
      Minister of State for Corporate Affairs (I / C)
      Room No. 437 "C" wing
      4th Floor, Shastri Bhawan
      Dr. R. P. Road, New Delhi
      sachin.pilot@...
      pilotoffice@...

      2. Shri Naved Masood
      Secretary
      MINISTRY OF CORPORATE AFFAIRS
      'A' WING, SHASTRI BHAWAN
      RAJENDRA PRASAD ROAD,
      NEW DELHI - 110 001
      Phone: 011-23384660, 23384470, 23389403
      secy.mca@...

      3. Bhaskar Chatterjee,
      Director General & CEO, Indian Institute of Corporate Affairs
      Plot no. :- P 6,7,8
      Sec. 5, IMT Manesar,
      Distt. Gurgaon (Haryana).
      Pin Code - 122 050
      Ph:- 0124-2290400 & 0124-2291064
      bhaskarchatterjee@...

      --------------------------------

      http://www.indianexpress.com/news/finmin-to-decide-on-tax-benefits-for-csr-after-budget-sachin-pilot/1072758/

      FinMin to decide on tax benefits for CSR after Budget: Sachin Pilot

      Press Trust of India : New Delhi, Tue Feb 12 2013, 00:37 hrs

      The finance ministry is expected to take a view on providing tax benefits
      for expenditure on social welfare activities by companies after the budget,
      Corporate Affairs Minister Sachin Pilot said today.

      Against the backdrop of the government making Corporate Social
      Responsibility (CSR) spending mandatory in the proposed new Companies Act,
      various firms are pitching for tax benefits on such expenditure.

      Pilot said the money should be invested for community development.

      "It is clear that CSR (spending) we have proposed in the Bill is two per
      cent of the profits. Now, I think, post budget, the finance ministry will
      take a view (on whether) it will be taken as an expense or not. But for all
      purposes the definition of profit is what it is. Different suggestions have
      come forward," Pilot said.
    • Binty
      I can agree to one thing only and that is, President’s secretariat’s involvement in public service through CSR contribution – monitoring of
      Message 2 of 2 , Feb 15, 2013
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        I can agree to one thing only and that is, President’s secretariat’s involvement in public service through CSR contribution – monitoring of implementation of CSR activity independent of the control of corporate.

        There is also a talk about taxing of CSR funds/expense. This is not a sound thinking as the philanthropy must be kept outside the state’s pie.

        Further, it will be a sound thinking to utilise CSR funds for reducing subsidies on LPG Cylinders and Public Distribution of Food Grains among BPL Cardholders with Aadhar base of UID.



        G. C. Mathur
        Convenor-Trustee Treasurer, Binty,
        ( A Voluntary Consumer Organisation)
        Regd. Office: H No 9-B/9, 1st Floor,

        Kishangarh, Vasant Kunj, Post Office,
        New Delhi: 110070
        Tel: +91 11 26136232, 26132420
        Email: gcmbinty@..., gcm.binty@...

        Web: http://www.bnty.org

        Webmail: mail@...
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