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Corporate Social Responsibility in India is arguably the first comprehensive, well-researched book on the subject in the country. The author uses Indian examples, case studies and CSR role models from the Indian industry to explain the gap between Indian business needs and current practices. Practices and researches in economically developed counties have also been used extensively. As the Indian industry begins to enter international markets, it is going to be imperative to integrate CSR with business goals for long-term sustainability and healthy economic, social and environmental impact. The book helps in understanding the meaning of business beyond financial numbers and tries to explain how even CSR can be used as a marketing tool and for business benefits. It dwells comprehensively upon the concept of CSR, from its inception as ph8ilanthropy till its journey to a form where now it is mandatory to be sensitive about CSR in businesses.This ready reckoner and guide for senior managers, CEOs, CFOs, HR and taxation officials in INdian and multinational companies, management students and academicians approaches CSR as a critical business need, not a philosophy. Sanjay K. Agarwal is a Chartered Accountant working with organized retail business. His areas of interest include Corporate and Factory Accounts and Direct and Indirect Taxation.
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Corporate Social Responsibility in India
Corporate Social Responsibility in India
Sanjay K. Agarwal
Copyright © Sanjay K. Agarwal, 2008 All rights reserved. No part of this book may be reproduced or utilised in any form or by any means, electronic or mechanical, including photocopying, recording or by any information storage or retrieval system, without permission in writing from the publisher. First published in 2008 by Response Books Business books from SAGE B1/I-1 Mohan Cooperative Industrial Area Mathura Road, New Delhi 110 044, India SAGE Publications Inc 2455 Teller Road Thousand Oaks, California 91320, USA SAGE Publications Ltd 1 Oliver’s Yard, 55 City Road London EC1Y 1SP, United Kingdom SAGE Publications Asia-Pacific Pte Ltd 33 Pekin Street #02-01 Far East Square Singapore 048763 Published by Vivek Mehra for Respone Books, typeset 9.5/12pt in Stone Serif at InoSoft Systems, Noida, and printed at Chaman Enterprises, New Delhi. Library of Congress Cataloging-in-Publication Data Agarwal, Sanjay K. Corporate social responsibility in India/by Sanjay K. Agarwal. p. cm. Includes bibliographical references and index. 1. Social responsibility of business—India. 2. Social responsibility of business—India—Case studies. 3. Industrial management—Social aspects— India. 4. Industrial management—Environmental aspects—India. I. Title. HD60.5.I5A35
658.4'080954—dc22
ISBN: 978-0-7619-3628-2 (PB)
2008
2008003873
978-81-7829-792-7 (India-PB)
The SAGE T eam: Sugata Ghosh, Maneet Singh, Vijaya Ramachandran Team: and Trinankur Banerjee
Dedicated to my parents who always inspired and supported me to complete my studies
Contents Preface
9
1. Introduction
11
2. Triple Bottom Line
61
3. CSR Reports
100
4. CSR Projects
175
5. Tax Breaks on CSR Expenses
218
6. CSR Reports Assurance
238
Appendices
255
Index
346
About the Author
352
Preface
O
RIGINALLY, I planned to write an article on taxation issues of Corporate Social Responsibility (CSR), as I was having some litigation with tax authorities for my employer’s tax matters. As I delved deeper, I found the matter was not as simple as it appeared. General understanding of CSR, at least in India, is only of philanthropy. Even the most highly educated people, working w