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There is no specific tax exemption that has been extended to CSR expenditure per se. However, while there is no specific exemption, spending on several activities like contributions to Prime Minister's Relief Fund, scientific research, rural development projects, skill development projects, agricultural extension projects, etc., provided in Schedule V...
Wazzeer Professional Network
ProfessionalI run a company in Mumbai and I want to know whether paying CSR will make the company eligible for any tax exemption? Please Advise
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Wazzeer Professional Network
ProfessionalThere is no specific tax exemption that has been extended to CSR expenditure per se. However, while there is no specific exemption, spending on several activities like contributions to Prime Minister's Relief Fund, scientific research, rural development projects, skill development projects, agricultural extension projects, etc., provided in Schedule VII, already enjoy exemptions under different sections of the Income Tax Act, 1961. Therefore, indirectly, your company can avail tax benefits.
almost 3 years ago
View answer
I run a company in Mumbai and I want to know whether paying CSR will make the company eligible for any tax exemption? Please Advise
-
Wazzeer Professional Network
ProfessionalThere is no specific tax exemption that has been extended to CSR expenditure per se. However, while there is no specific exemption, spending on several activities like contributions to Prime Minister's Relief Fund, scientific research, rural development projects, skill development projects, agricultural extension projects, etc., provided in Schedule VII, already enjoy exemptions under different sections of the Income Tax Act, 1961. Therefore, indirectly, your company can avail tax benefits.
almost 3 years ago
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