Economics · Economy
With reference to Corporate Social Responsibility (CSR) provisions in India under the Companies Act, consider the following statements: Statement I: Companies crossing a specified financial threshold in terms of turnover, net worth, or profitability are brought under the CSR framework. Statement II: Eligible companies are required to spend at least two per cent of their average net profits of the preceding three financial years on CSR activities. Which of the statements given above is/are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Neither Statement I nor Statement II
- 2Both Statement I and Statement II✓
- 3Statement II only
- 4Statement I only
Correct answer
Both Statement I and Statement II
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