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CSR initiatives of India’s TCS reach over 1.66 m beneficiaries globally in FY 2019
Corporate Social Responsibility (CSR) initiatives of India’s Tata Consultancy Services (TCS) reached more than 1.66 million beneficiaries globally, in FY 2019, according to the company’s annual report 2018-19.
TCS partnered with Tata Trusts, NGOs and various not-for- profit organizations to scale up social programs. The company managed to create once against a considerable societal impact in the countries in which it operates.
Corporate Social Responsibility (CSR) is being harnessed to create systemic solutions that address the root causes of societal challenges in India. TCS, a global leader in technology and consultancy, has demonstrated its commitment to the socio-economic development of society.
The company has invested Rs. 434 crore on various sustainable development programs, against its prescribed CSR expenditure of Rs. 542 Crore, the report said.
Including overseas spend, the company’s total pending on CSR is Rs. 527 crore. CSR programs are focused on education and skill building, health and wellness, and environment. The CSR projects undertaken are within the broad framework of Schedule VII of the Companies Act, 2013.
“As per section 135 of the Companies Act, 2013, amount required to be spent by the company during the year ended March 31, 2019 and 2018 is Rs. 542 cores and Rs. 497 crore, respectively, computed at 2% of its average net profit for the immediately preceding three financial years, on Corporate Social Responsibility (CSR),” the report said.
According to the report, TCS incurred an amount of Rs. 434 crore and Rs. 400 crore during the year ended March 31, 2019 and 2018, respectively, towards CSR expenditure for purposes other than construction / acquisition of any asset.”
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