Whether the CSR Expenditure incurred by Foreign Company eligible to be taken as CSR expenditure by its Indian Company?

Question

Can CSR be done in kind ? i.e. If a company is in the business of publications of books whether it can donate books for the purpose of CSR ?

Answer 1

The Ministry of Corporate Affairs vide Circular No. 21/2014 dated June 18, 2014 has clarified that expenditure incurred by Foreign Holding Company for CSR activities in India will qualify as CSR spend of the Indian Subsidiary if, the CSR expenditures are
routed through Indian Subsidiaries and if the Indian subsidiary is required to do so a per section 135 of the Act.