Should companies get tax benefits for doing CSR?
- 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:
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
2. Shri Naved Masood
MINISTRY OF CORPORATE AFFAIRS
'A' WING, SHASTRI BHAWAN
RAJENDRA PRASAD ROAD,
NEW DELHI - 110 001
Phone: 011-23384660, 23384470, 23389403
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
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.
- 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@...