As per the Indian Companies Act, 2013 a qualified Indian company is required to contribute at least 2% of its average net profit towards corporate social responsibilities activities. In which of the following situations the company is required to follow the provisions ?
[A] Turnover of the company is ` 100 crore or more
[B] Turnover of the company is ` 500 crore or more
[C] Turnover of the company is ` 1,000 crore or more
[D] Turnover of the company is ` 2,000 crore or more
Answer & Explanation
Answer: Turnover of the company is ` 1,000 crore or more