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WEBINAR ON COVID & CSR RELATED EXPENSES – ISSUES ON ALLOWABILITY AND TAXABILITY FOR TAXPAYERS (JOINTLY WITH IMC, BCCI & BCAS)
October 22, 2021 @ 3:00 pm - 6:30 pm
The Chamber of Tax Consultants jointly with IMC Chamber of Commerce and Industry, Bombay Chamber of Commerce and Industry, and Bombay Chartered Accountants’ Society is organizing a webinar on “COVID & CSR related expenses – issues on allowability and taxability for taxpayers” to be held on Friday, October 22, 2021 from 3.00 p.m. to 6.30 p.m.
Corporate Social Responsibility (CSR) is also often referred to as company’s responsibility and its action on environmental, ethical, social and economic issues. CSR is not something new to India, and the concept of trusteeship advocated by Mahatma Gandhi, the father of the Nation, was embraced by many companies, in various forms over the years.
Paradigm shift was brought about in the dynamics of CSR in India vide the Companies Act, 2013. The 2013 Act mandated certain class of companies to spend 2% of their average net profits of the past three years on CSR activities as enumerated in the Seventh Schedule. The said shift from the voluntary to mandatory regime is marked by corporation’s choice to strict compliance.
The Indian Companies and Corporate organisations and Citizens have relentlessly helped the Nation at large in overcoming the COVID Pandemic which had brought the world to stand still and have undertaken lot of CSR activities for employees and community at large in recent time. But questions loom over allowability of amount spent on CSR and Covid relief as an expense / deduction under the Income-Tax Act.
This webinar has been organised to understand the intricacies of amendments made to CSR Act, Companies Act and Income-tax Act, in relation to CSR and Covid related expenses incurred by the organisations at large, which will give more clarity on the issues arising on account of interpretation of the provisions.
The details of the webinar are as follows-
| Topics | Speaker |
| Contribution to CSR Trust, amendment made in CSR Act and coverage under Companies Act and allowability of same under section 37(1) and claim for deduction under section 80G of Income tax Act |
Address by – Mr Rajiv Chugh, Partner, EY India Mr Sampath Rajagopalan, Moderator: Mr Rajiv Chugh Panelists: Mr Anil Mehta, Vice President Corporate Taxation Larsen & Toubro Limited (subject to confirmation) Mr Hemant Kadel, Senior President, Mr Sampath Rajagopalan, |
Covid related expenses incurred by companies and organisation, allowability of same under section 37(1), implications of Sec 40A(9) and taxability of amount received by employees and their family members, taxability in hands of intermediaries facilitating covid relief,etc. Key issues like
|
Address by : Mr Nandkishor Hegde Partner Deloittee Followed by Panelists: Mr Vijay Pandya, General Manager -Finance, |
In view of the importance of the topic and its overall impact on taxpayers, we hope you would surely like to attend this webinar and get more clarifications on CSR provisions.
| Date & Day | : | Friday, 22nd October, 2021 |
| Time | : | 3.00 pm to 6.30 pm |
| Topic | : | COVID & CSR related expenses – Issues on allowability and taxability for taxpayers |
| Registration Link | : | https://bit.ly/3FDjqnk |
You may send your queries related only to the above provisions, at [email protected], so that same can be taken up in panel discussion.
Looking forward to your active participation.