Answer each of the following as per the amended rules i.e. Clarification on spending of CSR funds for "Har Ghar Tiranga" campaign (MCA General Circular No. 08/2022 dated 26th July, 2022) and the Companies (Corporate Soci

CS Professional · Secretarial Audit, Compliance Management and Due Diligence · PYQS · December 2023
Answer each of the following as per the amended rules i.e. Clarification on spending of CSR funds for "Har Ghar Tiranga" campaign (MCA General Circular No. 08/2022 dated 26th July, 2022) and the Companies (Corporate Social Responsibility Policy) Amendment rules, 2022 (MCA notification no. G.S.R.715(E) dated 20th September, 2022): (iv) What are the information to be provided by all company's in the new format for annual report on CSR activities ?

Answer & Explanation:

The Amendment also provides for a new format for the annual report on CSR activities. All companies are required to provide the information in the annual report with respect to brief explanation: A brief outline of the company's CSR Policy, including overview of projects or programs proposed to be undertaken and a reference to the web-link to the CSR Policy and projects or programs; The Composition of the CSR Committee; Average net profit of the company for last three financial years; Prescribed CSR Expenditure; Details of CSR spent during the financial year; A responsibility statement of the CSR Committee that the implementation and monitoring of CSR Policy, is in compliance with CSR objectives and Policy of the company.

Topics: Corporate Social Responsibility (CSR)

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