- May 18, 2021
- Posted by: TeamSCK
- Category: Economics
No Comments
Highlights of Companies (CSR Policy) Amendment Rules, 2021
- Implementation – CSR activities can be undertaken through implementing agencies registered with MCA only by Filing of Form CSR-1 wef 01-04-2021
- Reporting – Impact Assessment of CSR projects having outlay > 1 cr. by companies having CSR obligation >= 10 cr. through independent agency
- Website disclosure – Mandatorily disclosure of the composition of the CSR Committee, and CSR Policy and Projects approved by the Board on their website
- CSR Expenditure – ‘Administrative Overheads’ as defined not to exceed 5% of Total CSR Expenditure
- Unspent CSR – Spend atleast 2% of the average Net Profits or Unspent amount on ongoing projects has to be transferred to separate account to be spent later or in prescribed funds within 6 months from end of FY
- Penal provisions for non-compliance of CSR provisions
- Disclosure of ‘Annual Report on CSR Activities’ to be included in Board’s report
0 - 0