Modest Ltd. has fallen within the purview of Corporate Social Responsibility norms recently. The Chief Executive Officer of the company wants to know from you, practising Company Secretary, how the following be dealt wit

Any surplus arising out of the CSR activities shall not form part of the business profit of a company and shall be ploughed back into the same project or shall be transferred to the unspent CSR account and spent in pursuance of CSR policy and annual action plan of the company or transfer such surplus amount to a Fund specified in Schedule VII of the Companies Act, 2013 (the Act) within a period of six months of the expiry of the financial year.