Contribution to more R&D activities brought under CSR by amending Schedule-VII of the Companies Act 2013
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION
New Delhi, the 24th August, 2020
G.S.R.525(E).—In exercise of the powers conferred by sub-section (1) of section 467 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following further amendments in Schedule VII to the said Act, namely:-
In the said Schedule, for item (ix) and the entries thereto, the following item and entries shall be substituted, namely:-
“(ix) (a) Contribution to incubators or research and development projects in the field of science, technology, engineering and medicine,funded by the Central Government or State Government or Public Sector Undertaking or any agency of the Central Government or State Government; and
(b) Contributions to public funded Universities; Indian Institute of Technology (IITs); National Laboratories and autonomous bodies established under Department of Atomic Energy (DAE); Department of Biotechnology (DBT); Department of Science and Technology (DST); Department of Pharmaceuticals; Ministry of Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homoeopathy (AYUSH); Ministry of Electronics and Information Technology and other bodies, namely Defense Research and Development Organisation (DRDO);Indian Council of Agricultural Research (ICAR); Indian Council of Medical Research (ICMR) and Council of Scientific and Industrial Research (CSIR),engaged in conducting research in science, technology, engineering and medicine aimed at promoting Sustainable Development Goals (SDGs)”.
2. This notification shall come into force on the date of its publication in the Official Gazette.
[E-F.No. CSR-07/2/2020-CSR-MCA]
GYANESHWAR KUMAR SINGH, Jt.Secy.
Download Notification CLick Here >>
- RBI specifies ‘Related Party’ with respect to banks
- Advisory on Filing Opt-In Declaration for Specified Premises, 2025
- FAQs for HSNS Cess Act, 2025 and HSNS Cess Rules, 2026
- Refusing to condone delay can result in a meritorious matter thrown out at threshold
- Prior period income cannot be considered as income of the current year
