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Re: Should companies get tax benefits for doing CSR?

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  • Thumakunta Sreerama
    Respected Sirs, I am attaching one file containing my specific observations on the issue.  These were already circulated through Karmayog Foundation vide
    Message 1 of 1 , Feb 12, 2013
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      Respected Sirs,

      I am attaching one file containing my specific observations on the issue.  These were already circulated through Karmayog Foundation vide details given below:-


      [karmayog-hyd] Digest Number 1345 -Saturday, December 22, 2012 7:53 AM -

      Sub: Implementation
      of the Provisions under Section 25 of the Indian by "Thumakunta Sreerama"

      I shall be highly obliged, if your good selves could kindly consider my observations on the issue duly taking up some exercises of getting the factual position examined in this behalf abour the implementation of the CSR activities by the concerned Corporates by taking the help of the Comptroller & Auditor Gneral of India and his battalion.Thanking your good selves
      Yours SincerelyT.H. Sree RamaProject Founder & Managing Trustee
      Global Institution for Skills & CareersDirector of Content Development & Director of Central Asia Virtual School for and on behalf of World Virtual SchoolMember of South Asian Foundation for Regional Cooperation through Education and sustainable developmentWorld Bank - Online Media Briefing Centre - Accredited JournalistMember of Subordinate Audit Service ( Under C&AG of India)




      Sub: Implementation of the Provisions under Section
      25 of the Indian Companies Act, 1956 amended from time to time pertaining to
      Corporate Social Responsibility



       

      a)   Under the provisions contained in Section 25
      of the Indian Companies Act 1956 amended from time to time, each Corporate Body
      / Company is compelled to allot funds for implementation of the Schemes /
      programs under Corporate Social Responsibility Statutory Requirement;

      b)  At
      present, such Corporate Bodies / Companies allocate funds and implement their
      Social Welfare Schemes / Plans at their instance independently;

      c)  Such
      Corporate Bodies / Companies participating in the implementation of Welfare
      Schemes / Plans under the above said provisions are obtaining a lot of
      incentives from the side of the Government quite disproportionate to their
      contributions in this behalf;

      d)  Moreover,
      these funds remain  at their disposal
      facilitating the recycling of the funds for their own commercial activities
      through manipulate diversion of such funds;

      e)  Just
      for Example, Sathyam Computer had been getting incentives from Government 5 to
      10 times more than their contribution to social welfare under the CSR provisions.  Take the case of operation 108 Ambulance, in
      respect of which Sathyam’s contribution remained to the extent of 5% balance
      95%being supported by the Government of India. 
      But the entire credit stood passed on in favour of Sathyam Computers
      there by undermining the Government of India’s Contribution to the extent dof
      95% in such behalf;  This is just an
      example;

      f)    We have
      to put a full stop to such kind of manipulations / diversions defeating the
      very purpose of introducing the Corporate social Responsibility Clauses under
      the Indian Companies Act 1956 amended from time to time;

      g)  What
      next?! It has to be ensured that the role of these Corporate Bodies / Companies
      should got confined to the extent of allotting the intended funds, the
      implementation part of such Social Welfare Schemes got entrusted to the
      Presidents Secretariat;

      h)  There
      shall be a Tripartite Committee with the Presidents Secretary being the First
      Member – Secretary to the Ministry of Corporate Affairs being the Secosnd
      member – An Independent dedicated NGO to be identified and entrusted with the
      responsibility of monitoring the implementation of such Schemes / Plans being
      the Third Member;

      i)    Funds
      get allotted – Monthly Budgets are to be got prepared, submitted, approved by
      this Independent NGO –funds got released to the extent of the coverage of
      recurring expenses including the salaries of the respective NGO staff
      pertaining to the NGOs involved in such implementation.

      j)    The
      Accounts pertaining to each Social Welfare Plan for which Funds remain allotted
      & credited to President’s Secretariat shall have to be got audited by the
      Comptroller & Auditor General of India;

      k)  It is
      only then the remaining amount lying in the account of Independent social
      welfare scheme / plan should be got paid to the independent NGO through the
      Third Member of the Tripartite Committee after obtaining clearance of the said
      file by the Comptroller & Auditor General of India;

      l)    This
      shall work out to be fool-proof system ensuring the utilization of the said
      funds in public interest.

      I shall be highly obliged, if your good selves
      could kindly get my above humble submissions examined at length and in depth
      for onward implementation. This matter may kindly be taken up with the  Hon’ble President of India – Ministry of
      Corporate Affairs & also the Comptroller & Auditor General of India
      calling for their comments on the same. In so far as my personal details are
      concerned, kindly visit my website: centralasia.wvs.us.com and also visit me on
      face book by searching for “Thumakunta Sree Rama” where in I have been posting
      my expressions of thought on diversified matters of common importance.

       

      Through these columns, I express my individual and
      institutional interests in taking up the above assignment from the side of the
      Government of India taking the help of lakhs of Senior Citizens retiring from
      different organizations at different levels for this specific purpose.

      In this connection, I also suggest the Government
      of India to take over all the Parks in Cities and Towns whether belonging to
      Municipalities or Corporations or even the privately owned Housing Societies,
      in as much as they are becoming the dwelling places of the beggars – drunkers –
      drug addicted persons –some times – convenient centers of sexual exploitation.

       

      These Parks can be converted into “Centers of
      Social Action Activating Services”: creating an awakening in the minds of the
      public at large  besides conducting
      classes for Yoga, Meditation, Counseling etc.,

      I have also got a very big project under which a 7th
      Standard English Medium passed candidates are picked up – extended one year Foundational
      Course  in English – Computer Fundamentals
      & Internet Operations – there after getting them graduated in 3 years One
      year  High School Diploma – One year
      Intermediate Diploma and One year Graduation Diploma.  Besides this, these candidates shall be got
      trained in Para Legal Volunteership – Para Social Volunteership – Basic Employability
      Skills & Self Employment Skills.

       

      All these proposals have been appreciated and given
      a green signal by the World Virtual School, State of Illinois, USA by whom I
      have been appointed as the Director of Content Development & also the
      Director of Central Asia Virtual School. 
      Please visit my website: centralasia.wvs.us.com.

      Indian Development Coalition for America ie./, IDCA
      also has expressed its interest in having tie up with us.  I am unable to launch the programme uptil now
      merely because of my financial deficiencies. 


      Please go through these issues with a sense of
      devotional commitment to the cause of the community as a whole.

      A line in reply shall be highly appreciated.

       

      Thanking your good selves

       

      Yours Sincerely

      T.H. Sree Rama

      919866497168

      Dated;12th February, 2013.

       

       
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