Dear learned friends, 135 (1) provides that every company having - TopicsExpress

Dear learned friends, 135 (1) provides that every company having …………………………. or a net profit of rupees five crore or more during any financial year shall constitute a Corporate Social Responsibility Committee ……….. What does the term any financial year mean in above Section??? Whether CSR will applicable in following situation ? If Company’s net profit for FY 2014 is less than 5.00 crores. If same Company’s profit for FY 2014 is less than 5.00 Crore but average profit for last three FY exceeds Rs 5.00 Crores. Your views solicited

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