Corporate Social Responsibility (3rd Edition)
- Year of Publication: 2021
- Edition: 3rd
- ISBN: 978-93-90854-44-8
- No.of Pages: 352
Corporate Social Responsibility is an attempt to serve as a guide pertaining to CSR implementation and compliance. CSR provisions have been amended by the Companies (Amendment) Act, 2019 w.e.f. 31st July, 2019 and the Companies (Amendment) Act, 2020 w.e.f. 22-1-2021. The CSR Rules have also amended w.e.f. 22nd January, 2021 in the wake of Covid Pandemic and certain other long standing demands of the industry. The amendments brought in by this Amendment Act and the Rules thereunder have made subtle changes to the CSR compliances including requirements for transferring unspent amount of CSR to the Specified Fund, CSR impact assessment, allowing set off of excess spending, etc. on one hand and punitive measures for CSR non- compliance thereto on the other hand.
All companies with turnover of Rs. 1,000 crore and more or a net worth of Rs. 500 crore and more or net profit of Rs. 5 crore and more, shall have to spend at least two percent of their past three-year average profit every year on CSR activity. Unlike in the past, the companies will now be required to spend in a structured manner. The old way of writing a cheque for religious cause or an activity that benefits their own workers will not be considered CSR. This means that there will also be a need for a whole lot of CSR professionals and consultants and other specialists.
The book is equipped with the following features:
1. Corporate Social Responsibility – An Introduction
2. Evolution of Corporate Social Responsibility in India
3. Corporate Social Responsibility under Companies Act, 2013
4. Companies to which CSR Obligations are Applicable
5. Mandatory CSR Obligations
6. Mandatory CSR Spends
7. Auditor’s Responsibilities
8. Practice Pointer Illustrations on CSR
9. CSR Spends Vis-a-Vis Charitable and Political Contributions Under Companies Act, 2013 and Income Tax Act, 1961
10. Business Process Integration and Shared Value
11. Business Responsibility Reports by Listed Companies
12. CSR Reporting vis-a-vis Indian Corporates
13. CSR Governance Guidelines and CSR Audits
14. FAQs issued by MCA and ICAI
CA. Kamal Garg is a Fellow Member of The Institute of Chartered Accountants of India (ICAI) and a First Class Commerce Baccalaureate from Deen Dayal Upadhyaya College, University of Delhi and an academic resource partner in KGMA, Delhi. He has also qualified post qualification course on Diploma in Information System Audit (DISA) conducted by ICAI. Besides this he is also an Insolvency Professional registered with Insolvency and Bankruptcy Board of India (IBBI). He was also the member of Board of Studies (BOS) Study Material Research Group (2009-2010) of NIRC of ICAI and a special invitee member of Accounting Standards Board (ASB) [2012-2013 and 2020-2021] and Ind- AS (IFRS) Implementation Committee [2014-2015] of ICAI. He was also nominated as a special invitee member to the Committee on Banking, Insurance and Pension (2014-2015) of NIRC of ICAI. He is also the faculty resource of Ethical Standards Board (ESB) and Peer Review Board (PRB) of ICAI. He is also a key resource person for development and review of various study contents and webcasts for BOS of ICAI, such as study material and practice manual on Advanced Auditing for CA Final, eLectures for CA IPCC and CA Final studies, etc.
Besides being a regular guest speaker for IFRS and Management Development Programmes at various forums including ICAI and ICSI, he is also an author of over dozens of book(s) and commentaries on company and commercial laws including Ind AS. He possesses a rich industry experience in the areas of Corporate Laws (like Companies Act, FEMA, Taxation, Foreign Collaborations, Joint Ventures, etc.), Audits and Management Consultancy.
Bharat is a 'trade-name' for a group of concerns, popularly known as Bharat Law House and Bharat Law House Pvt. Ltd. Bharat is one of the most reputed publishers of law books with an experience of over six decades. It possess a very diverse range of publications covering not only the area of taxation - direct and indirect - but also company law, insolvency capital market, finance, industrial law, foreign exchange, commercial, civil and criminal laws. The students publications for CA, CS, CMA, CFA, MBA, graduate and post-graduate studies have carved out a niche for themselves. The Publication House has a professionally qualified team with strong in-house capabilities. Their strength lies in the patronage of legal luminaries in every field. They strive for accuracy, authenticity and sincerity.
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- Year of Publication: 2021
- Edition: 3rd
- ISBN: 978-93-90854-44-8
- No.of Pages: 352
Corporate Social Responsibility is an attempt to serve as a guide pertaining to CSR implementation and compliance. CSR provisions have been amended by the Companies (Amendment) Act, 2019 w.e.f. 31st July, 2019 and the Companies (Amendment) Act, 2020 w.e.f. 22-1-2021. The CSR Rules have also amended w.e.f. 22nd January, 2021 in the wake of Covid Pandemic and certain other long standing demands of the industry. The amendments brought in by this Amendment Act and the Rules thereunder have made subtle changes to the CSR compliances including requirements for transferring unspent amount of CSR to the Specified Fund, CSR impact assessment, allowing set off of excess spending, etc. on one hand and punitive measures for CSR non- compliance thereto on the other hand.
All companies with turnover of Rs. 1,000 crore and more or a net worth of Rs. 500 crore and more or net profit of Rs. 5 crore and more, shall have to spend at least two percent of their past three-year average profit every year on CSR activity. Unlike in the past, the companies will now be required to spend in a structured manner. The old way of writing a cheque for religious cause or an activity that benefits their own workers will not be considered CSR. This means that there will also be a need for a whole lot of CSR professionals and consultants and other specialists.
The book is equipped with the following features:
1. Corporate Social Responsibility – An Introduction
2. Evolution of Corporate Social Responsibility in India
3. Corporate Social Responsibility under Companies Act, 2013
4. Companies to which CSR Obligations are Applicable
5. Mandatory CSR Obligations
6. Mandatory CSR Spends
7. Auditor’s Responsibilities
8. Practice Pointer Illustrations on CSR
9. CSR Spends Vis-a-Vis Charitable and Political Contributions Under Companies Act, 2013 and Income Tax Act, 1961
10. Business Process Integration and Shared Value
11. Business Responsibility Reports by Listed Companies
12. CSR Reporting vis-a-vis Indian Corporates
13. CSR Governance Guidelines and CSR Audits
14. FAQs issued by MCA and ICAI
CA. Kamal Garg is a Fellow Member of The Institute of Chartered Accountants of India (ICAI) and a First Class Commerce Baccalaureate from Deen Dayal Upadhyaya College, University of Delhi and an academic resource partner in KGMA, Delhi. He has also qualified post qualification course on Diploma in Information System Audit (DISA) conducted by ICAI. Besides this he is also an Insolvency Professional registered with Insolvency and Bankruptcy Board of India (IBBI). He was also the member of Board of Studies (BOS) Study Material Research Group (2009-2010) of NIRC of ICAI and a special invitee member of Accounting Standards Board (ASB) [2012-2013 and 2020-2021] and Ind- AS (IFRS) Implementation Committee [2014-2015] of ICAI. He was also nominated as a special invitee member to the Committee on Banking, Insurance and Pension (2014-2015) of NIRC of ICAI. He is also the faculty resource of Ethical Standards Board (ESB) and Peer Review Board (PRB) of ICAI. He is also a key resource person for development and review of various study contents and webcasts for BOS of ICAI, such as study material and practice manual on Advanced Auditing for CA Final, eLectures for CA IPCC and CA Final studies, etc.
Besides being a regular guest speaker for IFRS and Management Development Programmes at various forums including ICAI and ICSI, he is also an author of over dozens of book(s) and commentaries on company and commercial laws including Ind AS. He possesses a rich industry experience in the areas of Corporate Laws (like Companies Act, FEMA, Taxation, Foreign Collaborations, Joint Ventures, etc.), Audits and Management Consultancy.
Bharat is a 'trade-name' for a group of concerns, popularly known as Bharat Law House and Bharat Law House Pvt. Ltd. Bharat is one of the most reputed publishers of law books with an experience of over six decades. It possess a very diverse range of publications covering not only the area of taxation - direct and indirect - but also company law, insolvency capital market, finance, industrial law, foreign exchange, commercial, civil and criminal laws. The students publications for CA, CS, CMA, CFA, MBA, graduate and post-graduate studies have carved out a niche for themselves. The Publication House has a professionally qualified team with strong in-house capabilities. Their strength lies in the patronage of legal luminaries in every field. They strive for accuracy, authenticity and sincerity.
