Abstract

Objective- Corporate Social Responsibility (CSR) is basically a concept whereby companies decide voluntarily to contribute to a better society and a cleaner environment. It is represented by the contributions undertaken by companies to the society through its business activities and its social investment. The objective of this research paper is to study the regulatory framework of CSR activities in India applicable on corporates with reference to the Companies Act, 2013 as well as an analysis on the tax implications under the Income Tax Act, 1961. The secondary objective of the research is to study the benefits of CSR activities to the corporates.

Design / Methodology/ Approach- Secondary sources of data collection have been adopted for the study. The relevant and required data are collected from the national and international articles, MCA website, RBI Guidelines, Companies Act 2013, Income Tax Act, 1961, ICSI articles as well as website of Mahindra and Mahindra Limited.

Findings- This research is a deliberate attempt to conclude that CSR is just not a penny out of the pocket but a churning machine to accumulate dollars in the bank account. 

Limitations- Present research is conceptualized and based on secondary data only.

Practical implications- The corporates could achieve right balance between company’s profits and its social responsibility and hereby developing a healthy society in true social and economic sense.

Originality/Value- The paper includes practical examples of organizations following CSR activities and also includes literature review of CSR articles.

Keywords- Corporates, Corporate social responsibility, Companies Act 2013, Income Tax Act 1961.