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Govt-constituted panel suggests making CSR non-compliance civil offence

Tuesday, August 13, 2019, 8:20 PM

A government-constituted high level panel on August 13 recommended making expenditure on CSR tax deductible as well as treat non-compliance with CSR requirements a civil offence under the companies law. Under the Companies Act, 2013, certain classes of profitable entities are required to spend at least two per cent of their three-year annual average net profit towards CSR in a particular financial year.