Comments
The Indian Institute of Corporate Affairs and tax consultancy firm Grant Thornton India LLP have signed an agreement to develop capacity of Indian companies for implementation of Corporate and Social Responsibility (CSR) Rules laid down in the new Companies Act. A memorandum of understanding was signed by IICA chief Bhaskar Chatterjee and Grant Thornton. Under the new Act, certain companies are required to shell out at least 2 per cent of their three-year annual average net profit towards CSR activities. The CSR rule is applicable for firms having at least ₹5 crore net profit, or ₹1,000 crore turnover or ₹500 crore net worth.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.