The trademark "US India Strategic Partnership Forum" has been licensed by USIN Foundation from US India Strategic Partnership Forum, Inc.

On September 26, USISPF, in association with DMD Advocates, hosted a webinar to apprise our member companies of the recommendations made in the ‘Report of the High-Level Committee on Corporate Social Responsibility’. Some of the common questions raised during the webinar and the expert responses are compiled here.

The High-Level Committee on Corporate Social Responsibility was constituted in October 2018 to review India’s existing CSR policy framework and make recommendations on strengthening the CSR ecosystem. The Committee’s report, published in August 2019, assesses the outcomes of Section 153 of the Companies Act (2013) and provides recommendations for improving the implementation of CSR provisions and the overall CSR ecosystem.

FAQs on Corporate Social Responsibility

No specific tax exemptions have been extended to CSR expenditure per se. The Finance Act, 2014 also clarifies that expenditure on CSR does not form part of business expenditure. While no specific tax exemption has been extended to expenditure incurred on CSR, spending on several activities like contributions to Prime Minister’s Relief Fund, scientific research, rural development projects, skill development projects, agricultural extension projects, etc., which find place in Schedule VII, already enjoy exemptions under different sections of the Income Tax Act, 1961.

Recommendation: The High-Level Committee has recommended that all CSR activities listed in Schedule VII should enjoy uniform tax benefit. Further, CSR expenditure to be made deductible from the income earned for the purpose of taxation and mode of implementation should be tax neutral.

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