The Tax Publishers

Companies Act, 2013--CSR

CSR Guidelines For Empowering Ports

FCS. Jaya Sharma-Singhania/CS. Mehul Solanki

Recently, the Ministry of Ports, Shipping & Waterways has launched 'Sagar Samajik Sahayyog,' its new guidelines for Corporate Social Responsibility (CSR), aiming to empower ports to address local community issues in a more cooperative and swift manner.

Key Highlights of the Guidelines

1. CSR Funding

-- Ports in India will allocate a specific percentage of their net annual profit towards CSR activities. The CSR budget for ports will be based on their respective turnover for the year, the division will be as follows:

-- Ports with an annual turnover of less than Rs 100 crores will spend 3-5% on CSR.