ARTC1102 - Taxpublishers.in

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The Tax Publishers Steering Committee on CSR Sanjay Atre MCA has constituted 'Steering Committee on Corporate Social Responsibility' to review the functioning of CSR enforcement and to recommend a uniform approach for its enforcement as CSR has become an intrinsic part of a company's overall sustainability. This article mainly explains the functions of steering committee as well as sub-committees, which are formed in order to assist the committee, in the light of Office Order issued by MCA in this regard. 1. Prologue Section 135 of the Companies Act, 2013, Schedule VII of the Companies Act, 2013 and Companies CSR Policy Rules, 2014 provide the broad contour within which eligible companies are required to formulate their corporate social responsibility (CSR) policies including activities to be undertaken and implement the same in the right earnest. CSR provisions were introduced to give better quality of life to such people, who are working with the company and to ensure that the amount for CSR expenditure is made not for profit, but for those communities from where the companies are earning revenue. India is the only country where CSR expenditure is mandatory for the companies to which CSR provisions are applicable. SUBSCRIBE FOR FULL CONTENT

The Tax Publishers

Steering Committee on CSR

Sanjay Atre

MCA has constituted 'Steering Committee on Corporate Social Responsibility' to review the functioning of CSR enforcement and to recommend a uniform approach for its enforcement as CSR has become an intrinsic part of a company's overall sustainability. This article mainly explains the functions of steering committee as well as sub-committees, which are formed in order to assist the committee, in the light of Office Order issued by MCA in this regard.

1. Prologue

Section 135 of the Companies Act, 2013, Schedule VII of the Companies Act, 2013 and Companies CSR Policy Rules, 2014 provide the broad contour within which eligible companies are required to formulate their corporate social responsibility (CSR) policies including activities to be undertaken and implement the same in the right earnest. CSR provisions were introduced to give better quality of life to such people, who are working with the company and to ensure that the amount for CSR expenditure is made not for profit, but for those communities from where the companies are earning revenue. India is the only country where CSR expenditure is mandatory for the companies to which CSR provisions are applicable.