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Question
Consider the following statements :
1. The companies Act, 2013 provides provisions related to uniform financial year from 1st April to 31st, March.
2. The companies Act, 2013 does not provides any provision related to 'Corporate Social Responsibility (CSR)'.
3. The companies Act, 2013 was passed by 'Rajya Sabha' on 8th August,2013.
Which of the above statement/s is/are not true ?
Consider the following statements :
1. The companies Act, 2013 provides provisions related to uniform financial year from 1st April to 31st, March.
2. The companies Act, 2013 does not provides any provision related to 'Corporate Social Responsibility (CSR)'.
3. The companies Act, 2013 was passed by 'Rajya Sabha' on 8th August,2013.
Which of the above statement/s is/are not true ?
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Solution
The correct option is C Only 2
The only statement that is untrue is the 2nd statement. The companies Act 2013 does provides provisions related to 'Corporate Social Responsibility'. As per the Companies Act 2013, So, any company which has net worth of Rs-500 crore or a turnover of Rs-1000 crore or net profit of Rs-5 crore will have to compulsorily spend 2% of its average net profit for immediately 3 preceeding years on CSR Activities.
The only statement that is untrue is the 2nd statement. The companies Act 2013 does provides provisions related to 'Corporate Social Responsibility'. As per the Companies Act 2013, So, any company which has net worth of Rs-500 crore or a turnover of Rs-1000 crore or net profit of Rs-5 crore will have to compulsorily spend 2% of its average net profit for immediately 3 preceeding years on CSR Activities.
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