With reference to Corporate Social Responsibility (CSR) rules in India, consider the following statements: 1. CSR rules specify that expenditures that benefit the company directly or its employees will not be considered CSR activities. 2. CSR rules do not specify minimum spending on CSR activities. Which of the statements given above is/are correct?
Question:
With reference to Corporate Social Responsibility (CSR) rules in India, consider the following statements: 1. CSR rules specify that expenditures that benefit the company directly or its employees will not be considered CSR activities. 2. CSR rules do not specify minimum spending on CSR activities. Which of the statements given above is/are correct?
With reference to Corporate Social Responsibility (CSR) rules in India, consider the following statements: 1. CSR rules specify that expenditures that benefit the company directly or its employees will not be considered CSR activities. 2. CSR rules do not specify minimum spending on CSR activities. Which of the statements given above is/are correct?
Options
Answer: (a) 1 only
Explanation:
CSR laws prohibit self-benefiting expenditures and mandate 2% of average net profits for CSR under the Companies Act, 2013.
Explanation:
CSR laws prohibit self-benefiting expenditures and mandate 2% of average net profits for CSR under the Companies Act, 2013.
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