As part of the CSR mandate under Section 135 of the Companies Act 2013, Corporates can associate with FITT to implement projects in relevant technology area and /or fund the technology incubation program at IIT Delhi.
Corporate Social Responsibility Rules
Every company having
a net worth of INR 500 crore or more,
or turnover of INR 1000 crore or more
or a net profit of INR 5 crore or more
during the immediately preceding financial year is subject to the provisions related to Corporate Social Responsibility (“CSR”) under the Section 135 of the Companies Act, 2013 (the “Act“) and is expected to spend 2% of the average net profits towards CSR Projects.
The CSR related provisions of the Act are applicable to not just companies incorporated in India, but also to a foreign company that has its branch or project office in India.
Under Section 135, Schedule VII [clause (ix)] of the Companies Act, 2013, the following are eligible as CSR projects
Contribution to Incubators funded
by Central Government
or State Government
or any agency or Public Sector Undertaking
of Central Governmentor
or State Government
and contributions to conducting research in
science,
technology
engineering
and medicine
aimed at promoting Sustainable Development Goals (SDGs)* at
public funded Universities,
Indian Institute of Technology (IITs),
National Laboratories
and Autonomous Bodies established under the auspices of
Indian Council of Agricultural Research (ICAR)
Indian Council of Medical Research (ICMR)
Council of Scientific and Industrial Research (CSIR)
Department of Atomic Energy (DAE), Defence
Research and Development Organisation (DRDO)
Department of Science and Technology (DST)
Ministry of Electronics and Information Technology (MEITY)
*In September 2015, the General Assembly had adopted the 2030 Agenda for Sustainable Development that includes 17 Sustainable Development Goals (SDGs). The 17 sustainable development goals (SDGs) to transform our world are:
How can you get started?
To get started with your CSR activity please contact or write to us:
Managing Director Foundation for Innovation and Technology Transfer (FITT) Indian Institute of Technology, Delhi [IITD] Hauz Khas, New Delhi – 110 016 INDIA Phones: +91 11 2685 7762, 2659 7167, 2659 7164, 2659 7289, 2659 7153, 2658 1013 Fax: +91 11 2685 1169 Email: mdfitt@gmail.com
