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The CSR is typically sent to a Registration Authority (RA), which checks the CSR contents and authenticates the applicant. On success the CSR is forwarded to a Certificate Authority (CA), which produces the X.509 public-key certificate, digitally signing it using the CA private key, and sends the new certificate to the applicant.
The Income Tax Act, 1961, and the Income Tax Rules, 1962, require citizens to file their tax returns with the Income Tax Department at the end of every financial year and this form is a part of the filing process as specified by the Government of India. The due date for filing return with the Income Tax Department of India is 31 July every year.
The CSR Voluntary Guidelines served as a statement of intent by the Government of India to encourage businesses to adopt responsible business practices. The CSR Guidelines provided for review and elaboration which was undertaken by the Indian Institute of Corporate Affairs, a think-tank and capacity development institution set up by the MCA.
The Income Tax Department (also referred to as IT Department; abbreviated as ITD) is a government agency undertaking direct tax collection of the government of the Republic of India. It functions under the Department of Revenue of the Ministry of Finance. [5] The Income Tax Department is headed by the apex body Central Board of Direct Taxes (CBDT
Direct tax in the form of an income tax was introduced by Sir James Wilson in India in 1860 to overcome the difficulties created by the Indian Rebellion of 1857. [12] The organisational history of the Income-tax Department, however, starts in the year 1922, when the Income-tax Act [4], 1922 gave, for the first time, a specific nomenclature to various Income-tax authorities.
The PM CARES Fund was initially announced as a public body, on its establishment, and the day after it was established, the Ministry of Corporate Affairs announced that donations to the fund would be eligible as corporate social responsibility (CSR) contributions, allowing companies to claim tax exemptions on donations to the Fund. [27]
Tax advantages: You won’t have to pay taxes on any interest gained within the tax year. Plus, there’s an option to either defer your taxes till retirement or completely evade them with a Roth IRA.
CSR/SRI is voluntary in Denmark, but if a company has no policy on this, it must state its position on CSR in financial reports. [182] In 1995, item S50K of the Income Tax Act of Mauritius mandated that companies registered in Mauritius pay 2% of their annual book profit to contribute to the social and environmental development of the country ...