What is Injeti Srinivas Committee?

Question

Asked: September 30, 20212021-09-30T19:29:42+05:30 2021-09-30T19:29:42+05:30In: Economics

[Deleted User] · Accepted Answer · 2021-09-30T19:32:04+05:30

Injeti Srinivas Committee

It was set-up in 2019.
The expenses towards CSR should be eligible for deduction in the computation of taxable income.
A clarification may be issued that for newly incorporated companies, the CSR obligation under Section 135 of the Companies Act shall lie only after they have been in existence for three years.
A provision to carry forward unspent CSR balance for three to five years.
Central government funds should be discontinued as CSR spend, and instead a specially designated fund should be created for transfer of unspent CSR money beyond three to five years.
Violation of CSR compliance may be made a civil offense and shifted to the penalty regime.