Areas of investment under CSR to expand
Saturday, 12 June 2010
FE Report
The areas of investment under Corporate Social Responsibility (CSR) are set to expand in 22 social development sectors from next fiscal.
The Finance Bill-2010 has proposed to expand the sectors and cut its conditions to offer the 10 per cent tax exemption facility on invested amount to more corporate houses.
The bill also proposed to withdraw tax exemption facilities on fisheries farm operated by corporate taxpayers, private medical, dental and engineering college, pelleted poultry feed and impose a reduced rate of tax.
Private medical, dental and engineering colleges have to pay tax on their income at 15 per cent while income from pelleted poultry feed production and fisheries farm operated by corporate taxpayers at 5.0 per cent.
The condition of 10 per cent investment in bond on pelleted poultry feed production and fisheries farm operated by corporate taxpayers might be scrapped from upcoming fiscal.
However, fisheries farm operated by individuals will get the tax exemption facility.
The areas of investment under Corporate Social Responsibility (CSR) are set to expand in 22 social development sectors from next fiscal.
The Finance Bill-2010 has proposed to expand the sectors and cut its conditions to offer the 10 per cent tax exemption facility on invested amount to more corporate houses.
The bill also proposed to withdraw tax exemption facilities on fisheries farm operated by corporate taxpayers, private medical, dental and engineering college, pelleted poultry feed and impose a reduced rate of tax.
Private medical, dental and engineering colleges have to pay tax on their income at 15 per cent while income from pelleted poultry feed production and fisheries farm operated by corporate taxpayers at 5.0 per cent.
The condition of 10 per cent investment in bond on pelleted poultry feed production and fisheries farm operated by corporate taxpayers might be scrapped from upcoming fiscal.
However, fisheries farm operated by individuals will get the tax exemption facility.