(The Gist of PIB) High
Level Committee on CSR recommends CSR expenditure to be made tax deductible
High Level Committee on CSR recommends
CSR expenditure to be made tax deductible expenditure
Injeti Srinivas, Secretary (Corporate Affairs), presented the Report of
the High Level Committee on Corporate social responsibility (CSR) to the
Union Minister of Corporate Affairs, Nirmala Sitharaman.
The High Level Committee on CSR was constituted in October, 2018 under
the Chairmanship of Injeti Srinivas, Secretary (Corporate Affairs).
To review the existing CSR framework and make recommendations on
strengthening the CSR ecosystem, including monitoring implementation and
evaluation of outcomes.
Recommendations of the Committee:
Making CSR expenditure tax deductible,
Provision for carry forward of unspent balance for a period of 3 – 5
Aligning Schedule 7 with the SDGs by adopting a SDG plus framework
(which would additionally include sports promotion, Senior Citizens’
welfare, welfare of differently abled persons, disaster management and
Balancing local area preferences with national priorities,
Introducing impact assessment studies for CSR obligation of 5 crore or
Registration of implementation agencies on MCA portal,
Developing a CSR exchange portal to connect contributors, beneficiaries
Allowing CSR in social benefit bonds,
Promoting social impact companies and third party assessment of major
Companies having CSR prescribed amount below Rs. 50 lakh may be exempted
from constituting a CSR Committee and.
Violation of CSR compliance may be made a civil offence and shifted to
the penalty regime.