Question

CSR is governed by section of Companies Act 2013.

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Answer 1

Answer:

Corporate Social Responsibility (CSR) implies a concept, whereby companies decide voluntarily to contribute to a better society and a cleaner environment – a concept, whereby the companies integrate social and other useful concerns in their business operations for the betterment of their stakeholders and society in general in a voluntary way.

Basically, “Corporate Social Responsibility” means and includes but is not limited to:

Projects or program relating to activities specified in Schedule VII to The Act.

Projects or program relating to those activities which are undertaken by the Board of directors of a company in ensuring the recommendation of the CSR Committee of the Board as per declared CSR Policy of the Company along with the conditions that such policy will cover subjects specified in Schedule VII of the Act.