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According to a recent Government policy,...

According to a recent Government policy, companies have been mandated to spend 2 percent of their average net profits for past three years on fulfilling

A

Financial Inclusion

B

Millennium Development Goals

C

KYC norms

D

Corporates Social Responsibilities

Text Solution

Verified by Experts

The correct Answer is:
d
The Ministry of Corporate Affairs (MCA), in September 2013 proposed to mandate companies to spend 2% of their average net profit for past three years on fulfilling their Corporate Social Responsibilities (CSR) even if their groups makes consolidated net loss. As per the draft rules under the newly enacted Companies Act. 2013, this spend is based on the stand alone net profit of the company. irrespective of loss or gain 01 the group.
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