Corporate Social Responsibility in India is arguably the first comprehensive, well-researched book on the subject in the country. The author uses Indian examples, case studies and CSR role models from the Indian industry to explain the gap between Indian business needs and current practices. Practices and researches in economically developed counties have also been used extensively. As the Indian industry begins to enter international markets, it is going to be imperative to integrate CSR with business goals for long-term sustainability and healthy economic, social and environmental impact.
The book helps in understanding the meaning of business beyond financial numbers and tries to explain how even CSR can be used as a marketing tool and for business benefits. It dwells comprehensively upon the concept of CSR, from its inception as ph8ilanthropy till its journey to a form where now it is mandatory to be sensitive about CSR in businesses.This ready reckoner and guide for senior managers, CEOs, CFOs, HR and taxation officials in INdian and multinational companies, management students and academicians approaches CSR as a critical business need, not a philosophy.
Sanjay K. Agarwal is a Chartered Accountant working with organized retail business. His areas of interest include Corporate and Factory Accounts and Direct and Indirect Taxation.
Chapter 5: Tax Breaks on CSR Expenses
Tax Breaks on CSR Expenses
Taxes serve several functions in addition to financing government expenditure. Governments everywhere, including in India, use taxation measures to encourage or discourage the utilisation of resources for a particular sector, area or class of citizens. In case of indirect taxes like excise/service tax/sales tax, this is achieved through a reduced or nil rate of taxation on goods or services produced or provided by a targeted entrepreneur to a targeted sector, area or class of citizens. Here, the intentions and mode of implementation of taxation are clear and do not call for proving anything other than that it should fall within the ambit of the relevant notification or circular.
Things are not easy when it comes to direct ...