Section 183 of the Companies Act, 2013
Section 183 of the Companies Act, 2013 deals with Power of Board and other persons to make contributions to National Defence Fund, etc.
📜 Section 183 – Power of Board and other persons to make contributions to National Defence Fund, etc.
✅ Key Provisions:
Power to Contribute:
The Board of Directors of any company, or
Any person or authority exercising the powers of the Board in the company,
may contribute any amount to:
National Defence Fund, or
Any other fund approved by the Central Government for the purpose of national defence.
No Shareholder Approval Required:
These contributions do not require approval from the shareholders in a general meeting.
Disclosure in Profit and Loss Account:
The amount contributed under this section must be disclosed separately in the profit and loss account of the company.
🧾 Purpose:
This provision enables companies to support the national defence efforts swiftly and without procedural delays.
🔍 Related Points:
Contributions made under Section 183 are eligible for deduction under Section 80G of the Income Tax Act, subject to conditions.
This section is applicable to all companies, whether private or public.
Let me know if you'd like a sample board resolution for making such a contribution.
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