High Level Committee recommends CSR expenditure to be made tax deductible

High Level Committee (HLC) on Corporate Social Responsibility (CSR) constituted by Ministry of Corporate Affairs recommended making CSR expenditure tax deductible and to make compliance violations as a civil offence that attracts penalties. Corporate Affairs Secretary Injeti Srinivas presented the Report of the High Level Committee on CSR to Union Finance Minister Nirmala Sitharaman. High ..

Month: Current Affairs - August, 2019

Category: Economy & Banking Current Affairs

Topics: civil offence • Corporate Social Responsibility • CSR exchange portal • CSR expenditure • High-Level Committee • Report of the High Level Committee on CSR • tax deductible • Union Finance Minister • Union Ministry of Corporate Affairs

RBI constitutes panel to review Core Investment Companies

Reserve Bank of India (RBI) constituted a working group to review regulatory guidelines and supervisory framework for Core Investment Companies (CIC). The 6-member working group is chaired by Tapan Ray, non-executive chairman, Central Bank of India and former Secretary in Union Ministry of Corporate Affairs (MCA). Key Highlights Background: In August 2010, Central Bank on ..

Month: Current Affairs - July, 2019

Category: Economy & Banking Current Affairs

Topics: Core Investment Companies • Infrastructure Leasing and Financial Services • Non-Banking Financial Companies • Reserve Bank of India • Tapan Ray Panel • Union Ministry of Corporate Affairs

MoU signed between Ministry of Corporate Affairs & SEBI

A formal Memorandum of Understanding (MOU) was signed between Union Ministry of Corporate Affairs (MCA) and Securities and Exchange Board of India (SEBI) for data exchange between two regulatory organizations and to tighten regulatory oversight. Key Highlights of MoU The MoU was signed by Shri K.V.R. Murty, Joint Secretary (MCA) and Smt. Madhabi Puri Buch, ..

Month: Current Affairs - June, 2019

Category: Economy & Banking Current Affairs

Topics: Indian Economy • Memorandum of understanding • MOU • SEBI • Securities and Exchange Board of India • Shri K.V.R. Murty • Smt. Madhabi Puri Buch • Statutory Body • Union Ministry of Corporate Affairs

Government sets up Injeti Srinivas High Level Committee on Corporate Social Responsibility

The Union Ministry of Corporate Affairs (MCA) has constituted High Level Committee on Corporate Social Responsibility – 2018 (HLC-2018) under Chairmanship of Injeti Srinivas, Secretary, MCA. It will review existing framework and guide and formulate roadmap for coherent policy on Corporate Social Responsibility (CSR). Committee’s Terms of Reference It will review existing CSR framework as ..

Month: Current Affairs - September, 2018

Topics: Committees • Companies Act • Corporate Social Responsibility • Injeti Srinivas High Level Committee • National • Union Ministry of Corporate Affairs

New Corporate Social Responsibility rules for companies notified by Union Ministry of Corporate Affairs

The Union Ministry of Corporate Affairs notified new Corporate Social Responsibility (CSR) rules for companies. They will apply to companies with at least Rs 5 crore net profit, or Rs.1,000 crore turnover or Rs.500 crore net worth. As part of the new Companies Act, these new CSR rules would come into effect from April 1, ..

Month: Current Affairs - March, 2014

Topics: Current Affairs 2014 • IBPS • Socio-Economic • Union Ministry of Corporate Affairs