responsibility social corporate
Further, as per Section 198(4)(l) the excess of expenditure over income, which had arisen in computing the net profits in accordance with this section in any year which begins at or after the commencement of this Act, in so far as such excess has not been deducted in any subsequent year preceding the year in respect of which the net profits have to be ascertained;
It may mean that Losses of Earlier Years will be considered while computing Average Profits.
Dear Members
Please Suggest me
Recently before 1 month, I have filed KYC of one director with fees of Rs. 5000/-
My query is whether we need to verify the DIN with KYC web by September 30, 2019.
Dear Members
Can LLP convert into Company. If yes then which Document is Required to be filled.
Please Suggest
Dear Members
Please Suggest me
Whether display of CSR Policy of a Company on the website of the Company is mandatory or not?
Dear Members
Please Suggest me
Private Company took loan from its members and relative of members and company doesn't have fund to pay so they wanted to convert the loan to equity and after conversion Company wants to go for strike off.
Can that Company do the same or is there any restriction?
Dear Members
Kindly suggest what documents should we take for issuing duplicate share certificate to the shareholder residing in a foreign country where the share certificates as lost/misplaced by the shareholder.
Also, how the transfer deed will be executed if the transferor is residing in a foreign country and the transferee is an Indian resident.
Dear Members
Please Suggest me
Procedure for Transfer of Equity Shares and Non Convertible Debentures from Non-Resident to Non Resident and Also please tell whether we have to report to RBI or not?
resident debentures convertible shares transfer equity procedure
Dear Members
Please Suggest me
In case of Nidhi which is recently incorporated how much max loan can be given to members.
Dear Members
Please Suggest me
If company has been inoperative since may 2017 and done filing of balance sheet for the year 2017-18 in September 2018 can company file STK-2 in august 2019, as it is inoperative from last 2 years ànd has no bank account since March 2018?
Do company need to file balance sheet for 2018-19?
Hi Divya,
Section 135 of the Companies Act, 2013, inter alia, provides for companies (Private as well as Public) having net worth of rupees five hundred crore or more or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more in a financial year to spend at least 2% of the average net profits of last 3 years for the company’s Corporate Social Responsibility (CSR) policy.
In case the said amount is not spent, the reasons for not doing so are to be disclosed in the Board’s Report.
In your case, as Net Worth crosses the limit of Rs.500 Crore so Provision of CSR will be applicable and the Company has to spend on CSR activities at least 2% of Last 3 Years Average Profit. If the company is formed recently then Average Profit may be calculated from balance period only.