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What are the disclosure requirements on the website of the company?
As per rule 9, the Board of Directors of the company shall mandatorily disclose the following on their website, if any, for public access:(i) Composition of the CSR Committee;(ii) CSR Policy; and(iii)...
Posted on: 2 years ago
Is it mandatory for foreign companies to give reports on CSR activities?
Yes, as per rule 8(2) of the Companies (CSR Policy) Rules, 2014, in case of a CSR-eligible foreign company, the balance sheet filed under clause (b) of sub-section (1) of section 381 of the Act, shall...
Posted on: 2 years ago
Whether reporting of CSR is mandatory in Board’s Report?
Yes, as per rule 8(1) of the Companies (CSR Policy) Rules, 2014, the Board’s Report pertaining to any financial year, for a CSR-eligible company, shall include an annual report on CSR containing parti...
Posted on: 2 years ago
What is the meaning of surplus arising from CSR activities? How can this surplus be utilised?
Surplus refers to income generated from the spend on CSR activities, e.g., interest income earned by the implementing agency on funds provided under CSR, revenue received from the CSR projects, dispos...
Posted on: 2 years ago
When two or more companies collaborate for implementation of a CSR project, should the impact assessment carried out by one company be shared with other companies?
Yes, in case two or more companies choose to collaborate for the implementation of a CSR project, then the impact assessment carried out by one company for the common project may be shared with the ot...
Posted on: 2 years ago
Whether impact assessment reports of all the CSR projects shall be annexed to the annual report on CSR?
Rule 8(3)(b) of the Companies (CSR Policy) Rules, 2014 provides that impact assessment reports shall be placed before the Board and shall be annexed to the report on CSR. It is clarified that web-link...
Posted on: 2 years ago
Is expenditure on impact assessment over and above the administrative overheads of 5%, or included in the same?
Yes, the expenditure incurred on impact assessment is over and above the specified administrative overheads of 5%. Expenditure up to a maximum of 5% of the total CSR expenditure for that financial yea...
Posted on: 2 years ago
Who can conduct impact assessment?
Rule 8(3) of the Companies (CSR Policy) Rules, 2014 requires that the impact assessment be conducted by an independent agency. The Board has the prerogative to decide on the eligibility criteria for s...
Posted on: 2 years ago
Whether companies are required to undertake impact assessment for FY 2020-21?
The provisions for impact assessment have come into effect from 22nd January, 2021. Accordingly, the company is required to undertake impact assessment of the CSR projects completed on or after Januar...
Posted on: 2 years ago
Which companies are required to undertake impact assessment?
Rule 8(3) of the Companies (CSR Policy) Rules, 2014 mandates following class of companies to conduct impact assessment:(i) companies with minimum average CSR obligation of Rs. 10 crore or more in the...
Posted on: 2 years ago