Monday, Jul 15 2024 | Time 16:52 Hrs(IST)
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India


New norms on CSR penalty will only allow tick box compliance: FICCI

New Delhi, Aug 2 (UNI) Reacting to the penal provisions with respect to non-compliance with CSR spending norms under the companies law, business chamber FICCI on Friday said the new norms will only encourage 'tick-box compliance'.
“The CSR is not just about spending but making an impact and finding sustainable solutions. The recent amendment will only encourage tick -box compliance," Sandip Somany, President, FICCI said in a statement here.
"It is also not aligned with the Government's recent measures to de-criminalise non-compliance. Further, it has been a long-standing industry demand to make CSR expenditure tax-deductible," he said.
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