C S R as per new Company Act

Mandatory spending on C S R  as per new  Company Act

A-Companies with a

1-net worth more than 500 crore

                      or

2 Turnover of more than 1000 crore

                        Or

3-   Net  profit   of  more than  5 crore

 B-   Companies  have  to spend  at least 2% of its average net profit during   three preceding years on corporate social responsibility (CSR) activities .

C-   Amount has to be preferably spend near or around  the areas the company  operates.

Source –eco-times  9^th Aug 2013