CSEET · Economic and Business Environment · Environmental Governance
Under the Indian Companies Act, 2013 framework for Corporate Social Responsibility, which of the following activities would qualify as CSR spending by an eligible company?
Spending on environmental sustainability and conservation of natural resources qualifies as CSR, as it is listed among the permitted activities in Schedule VII of the Companies Act. Political contributions, ordinary business activities and employee-only benefits do not count as eligible CSR expenditure.
- AContribution to a political party to support pro-environment candidates
- BSpending on ensuring environmental sustainability and conservation of natural resourcesCorrect
- CExpenditure on activities that benefit only the company's employees and their families
- DSpending on activities carried out in the normal course of business for profit
Explanation
Schedule VII lists activities eligible for CSR and includes ensuring environmental sustainability, ecological balance and conservation of natural resources. Political contributions, activities in the normal course of business and employee-only benefits are excluded from CSR.
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