NEW CSR REGIME-IS IT A PHILANTHROPY OR A TAX LEVY?

India turned into the leading nation to order Corporate Social Responsibility in 2014, it has followed a "comply or explain" approach. No more. With the 2019 and 2020 revisions to Section 135 of the Companies Act, 2013, the CSR system has changed to a "comply or face consequences" model. Not very many purviews receive a particularly severe and obligatory methodology, and none tries to collect fines for the inability to exhaust CSR reserves.

Be that as it may, till a month ago, the revisions had not been carried out as basic or fundamental guidelines were absent. Presently, through a notice on January 22, 2021, India's Ministry of Corporate Affairs has added the Amendment Rules, 2021, relating just to the 2019 amendments. Amendments in the year 2020 are yet to be executed.

• COMPUTATION OF CSR:

The standard is that organizations with total assets of ₹50