FAQs on Corporate Social Responsibility (CSR) by MCA
The Ministry of Corporate Affairs (MCA) came out with a General Circular No. 14/2021 dated 25-08-2021 with a view to clarify the doubts regarding Corporate Social Responsibility (CSR) provisions under Companies Act, 2013. The circular is reproduced here for your purposes.
Source: www.mca.gov.in
Download Link: https://www.mca.gov.in/bin/dms/getdocument?mds=NZCNkczg9%252BsQdrgqeBwitg%253D%253D&type=open
The broad framework of CSR has been provided in Section 135 of the Companies Act, 2013 (herein after referred as ‘the Act’), Schedule VII of the Act and Companies (CSR Policy) Rules, 2014 (herein after referred as ‘the CSR Rules’). Further, Ministry had also issued clarifications including FAQs from time to time on various issues concerning CSR.
A number of significant developments have taken place since then. The Ministry has notified the amendments in Section 135 of the Act as well in the CSR Rules on 22nd January 2021 with an aim to strengthen the CSR ecosystem, by improving disclosures and by simplifying compliances. In response to such amendments, Ministry has received several references and representations from stakeholders seeking clarifications on the various issues related to CSR.
Accordingly, in suppression of clarifications and FAQs issued vide General Circular No. 21/2014 (dated 18th June, 2014), 36/2014 (dated 17th September 2014), 01/2016 (dated 12th January 2016), 05/2016 (dated 16th May 2016), clarification issued vide letter dated 25.01.2018 and General Circular No. 06/2018 (dated 28th May 2018), a set of FAQs along with response of the Ministry is provided herewith at Annexure for better understanding and facilitating effective implementation of CSR.
FAQ on CSR
Click on the following link to access the FAQs on CSR: www.mca.gov.in/bin/dms/getdocument?mds=NZCNkczg9%252BsQdrgqeBwitg%253D%253D&type=open
