Rules for CSR Spending Notified

The new Corporate Social Responsibility (CSR) Rules are notified & effective from April 1, 2014. It is applicable on companies with net worth of over Rs. 500 crore or turnover of over Rs. 1000 crore or net profit of over Rs. 5 crore.

The Eligible activities for CSR Spending are as follows :

• Eradicating hunger, poverty and malnutrition, promoting preventive healthcare and sanitation
• Making available safe drinking water
• Promoting education, including special education & employment-enhancing vocation skills.
• Promoting gender equality, empowering women, setting up homes and hostels for women, orphans.
• Ensuring environmental sustainability.
• Protection of national heritage sites, art and culture including restoration of buildings and sites of historical importance
• Measures for benefit of Armed Forces veterans, war widows.
• Training to promote rural sports, Olympic sports, nationally recognized sports.
• Contribution to Prime Minister's National Relief Fund.
• Contributions to technology incubators located within academic institutions approved by Centre.
• Rural development projects.