Country’s leading entrepreneur and BJP MP R K Sinha said the Centre should exempt the expenditure under corporate social responsibility (CSR) from taxation so that all the companies come forward to do charity works with 2 per cent of their income.
Sinha said he spoke to Finance Minister Arun Jaitley in this regard and told him that thousands of companies, both medium and small, were not coming up for charity work because of the fear of tax. He even suggested that the slab of 2 percent could be increased if it was made tax free.
Sinha was talking to media after the AGM of his 44 years old and country’s leading private security agency which has trained more than five lakh people and many of them were working in various government security agencies and States police.
SIS Group Enterprises, was started as security agency but has grown up as a market leader in security, cash logistics and facility management, is the only multinational company of Bihar with its headquarter in Patna and among country’s 15 government and private enterprises which are biggest employers.