Comprehension

The Government may defer the deadline for companies to deposit the unspent portion of their Corporate Social Responsibility (CSR) funds into specified bank accounts in a move aimed at providing some relief in the fight against the COVID-19 and subsequent restrictions. Companies are required to spend at least 2% of their average net profit of the preceding within three financial years on CSR. The Ministry has allowed firms to undertake projects on an ongoing basis on the condition that any unspent amount must be deposited with a scheduled bank within 30 days of the end of the financial year. "Considering the current crisis, we request your esteemed office to consider relaxation by providing extension of the timelines up to June 30, 2021," the Institute of Company Secretaries of India said in a letter to the Ministry. Experts said that while lockdowns and restrictions are less stringent than last year and companies have adapted to working online, many professionals or their families have been affected by the infection, leaving teams short-staffed.

Question: 1

Which of the following is the Corporate Social Responsibility (CSR) initiative of the erstwhile Facebook India to promote women entrepreneurship?

Updated On: Aug 8, 2024
  • Shakti
  • Pragati
  • Lean In
  • Marching Forward
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The Correct Option is B

Solution and Explanation

The correct option is (B): Pragati.
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Question: 2

In 2019, which of the following Committees recommended that CSR expenditure should be made tax deductible expenditure?

Updated On: Aug 4, 2024
  • Company Laws Committee
  • High Level Committee on Reform of Indian Company Law
  • High Level Committee on Corporate Social Responsibility
  • Committee for Reforms in Corporate Social Responsibility in India
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The Correct Option is C

Solution and Explanation

The correct option is (C): High Level Committee on Corporate Social Responsibility.
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Question: 3

CAWACH is an initiative by the National Science and Technology Entrepreneurship Development Board, Department of Science and Technology, Government of India stands for the:

Updated On: Jul 18, 2024
  • Centre for Alleviating Waning Healthcare Companies
  • Centre for Augmenting Wound-up Healthcare Companies
  • Centre for Augmenting WAR with COVID-19 Health Crisis
  • Centre for Alleviating Withering Healthcare Companies
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The Correct Option is C

Solution and Explanation

The correct option is (C): Centre for Augmenting WAR with COVID-19 Health Crisis.
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Question: 4

On January 22, 2021 the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021 were notified by the:

Updated On: Jul 17, 2024
  • Ministry of Finance
  • Ministry of Social Justice and Empowerment
  • Ministry of Law and Justice
  • Ministry of Corporate Affairs
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The Correct Option is D

Solution and Explanation

The correct option is (D): Ministry of Corporate Affairs.
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Question: 5

The Ministry of Corporate Affairs has instituted an award to select companies to recognize corporate initiatives in the area of Corporate Social Responsibility (CSR) to achieve inclusive growth and inclusive and sustainable development. The name of the award is:

Updated On: Jul 18, 2024
  • National Corporate Social Responsibility Awards
  • National Awards for Excellence in Social Responsibility
  • National Awards for Corporate Excellence in Social Responsibility
  • National Awards for Excellence in Inclusive Growth and Sustainable Development
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The Correct Option is A

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The correct option is (A): National Corporate Social Responsibility Awards.
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