Role of CMA in aligning taxation and CSR for balancing social and business development
By: Vitin Kumar
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Contributor(s): Sharma, Pokhraj.
Publisher: Kolkata CMA Kaushik Banerjee 2023Edition: Vol.58(12), Dec.Description: 28-30p.Subject(s): Construction Engineering and Management (CEM)Online resources: Click here
In:
Management and accountant journalSummary: Traces of corporate philanthropy are evident since the inception of businesses. India is very early to mandate CSR expenditure, which is definitely something beyond the general philanthropy. CSR could be nothing but the very driving force which must relate to business needs and perpetuity in the form of ESG obligations. Specific denial of voluntary CSR under Income Tax Law as business expense/ deduction results in misalignment with very purpose of local development as enshrined in section 135 (5) of the Companies Act , 2013 and the issue is left open for litigation. This article critically examines the required entanglement of CSR and taxation enactments citing practical situations and role of CMA in balancing the interest of diversified stakeholders.
| Item type | Current location | Call number | Status | Date due | Barcode | Item holds |
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Articles Abstract Database
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School of Engineering & Technology (PG) Archieval Section | Not for loan | 2024-0100 |
Traces of corporate philanthropy are evident since the inception of businesses. India is very early to mandate CSR expenditure, which is definitely something beyond the general philanthropy. CSR could be nothing but the very driving force which must relate to business needs and perpetuity in the form of ESG obligations. Specific denial of voluntary CSR under Income Tax Law as business expense/ deduction results in misalignment with very purpose of local development as enshrined in section 135 (5) of the Companies Act , 2013 and the issue is left open for litigation. This article critically examines the required entanglement of CSR and taxation enactments citing practical situations and role of CMA in balancing the interest of diversified stakeholders.
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