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TMI BlogClarifications with regard to provisions of Corporate Social Responsibility under section 135 of the Companies Act, 2013.X X X X Extracts X X X X X X X X Extracts X X X X ..... panies Act, 2013 (herein after referred as 'the Act') and the Companies (Corporate Social Responsibility Policy) Rules, 2014, as well as activities to be undertaken as per Schedule VII of the Companies Act, 2013. Clarifications with respect to representations received in the Ministry on Corporate Social Responsibility (herein after referred as ('CSR') are as under:- (i) The statutory provision and provisions of CSR Rules, 2014, is to ensure that while activities undertaken in pursuance of the CSR policy must be relatable to Schedule VII of the Companies Act 2013, the entries in the said Schedule VII must be interpreted liberally so as to capture the essence of the subjects enumerated in the said Schedule. The items enlisted in the amended ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under Income Tax Act 1956, for those States where registration of Trust is not mandatory. (viii) Contribution to Corpus of a Trust/ society/ section 8 companies etc. will qualify as CSR expenditure as long as (a) the Trust/ society/ section 8 companies etc. is created exclusively for undertaking CSR activities or (b) where the corpus is created exclusively for a purpose directly relatable to a subject covered in Schedule VII of the Act. 2. This issues with the approval of Competent Authority. Yours faithfully, Sd/- (Seema Rath) Assistant Director (CSR) Phone No. 23389622 Copy to: 1. PSO to Secretary 2. PPS to Additional Secretary 3. PS to DG (IICA)/JS (M) /JS(B)/JS(SP)/DII (UCN)/EA/DII(POLICY) 4. DIR (AK)/DIR (AB)/DIR(NC)/DIR(PS ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... redominately rural farming community: Item no. (ii) of Schedule VII under the head of "promoting education" and "vocational skills" and "rural development". (a) Capacity building for farmers covering best sustainable farm management practices. (a) "Vocational skill" livelihood enhancement projects. (b) Training Agriculture Labour on skill development. (b) "Vocational skill" (c) Doing our own research on the field for individual crops to find out the most cost optimum and Agri - ecological sustainable farm practices. (Applied research) with a focus on water management. (c) 'Ecological balance', 'maintaining quality of soil, air and water'. (d) To do Product Life Cycle analysis from the soil conservation point of view. (d) "Conservat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... romoting education", if approved by Department of Science and Technology. 7. Disaster Relief Disaster relief can cover wide range of activities that can be appropriately shown under various items listed in Schedule VII. For example, (i) medical aid can be covered under 'promoting health care including preventive health care.' (ii) food supply can be covered under eradicating hunger, poverty and malnutrition. (iii) supply of clean water can be covered under 'sanitation and making available safe drinking water'. 8. Trauma care around highways in case of road accidents. Under 'health care'. 9. Clarity on "rural development projects" Any project meant for the development of rural India will be covered under this. 10. Supp ..... X X X X Extracts X X X X X X X X Extracts X X X X
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