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Corporate Laws & Corporate Governance Committee the Institute of Chartered Accountants of India has published a FAQ on the CSR. The purpose of this FAQ is to provide clarifications on the treatment of Corporate Social Responsibility (CSR) expenditures in the books of accounts of the companies and required disclosures in their Financial Statements. Apart from the FAQ, for ready reference, the publication also include text of section 135 and Schedule VII of the Companies Act, 2013, CSR Rules and MCA Circulars. The FAQ contains nine comprehensive questions with their answers including Revenue or Capital nature of CSR, Provisioning, or whether CSR Expenditure is an appropriation or charge on Profit and Loss Account of the company. The FAQ of ICAI can be very useful in dispelling the doubts of the companies executives or Chartered Accountants Professionals on the treatment of the CSR Spendings. Download ICAI FAQ on CSR Click Here >>
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