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Net profit under section 135(1) of Cos Act, 2013 for determining CSR eligibility

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Karthik Raghavan asked almost 3 years ago

Is the 'Net profit' of 5 crores or more contemplated by section 135(1) of Cos Act, 2013 for determining CSR eligibility to be computed as per section 198 - or is it the normal net profit figure from the financial statements?

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 veeru answered over 2 years ago

Every company 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 during any financial year shall constitute a Corporate Social Responsibility Committee of the Board consisting of three or more directors

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Data?1494421738 samkit kothari answered almost 3 years ago

Every company 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 during any financial year shall constitute a Corporate Social Responsibility Committee of the Board consisting of three or more directors, out of which at least one director shall be an independent director.

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