The Companies Act, 2013 brought revolutionary changes and mandated the Corporate Social Responsibility (CSR) provisions for the companies. As per the provisions related to CSR, eligible companies need to file a CSR Repor
CS Professional · Governance, Risk Management, Compliances and Ethics · PYQS · June 2022
The Companies Act, 2013 brought revolutionary changes and mandated the Corporate Social Responsibility (CSR) provisions for the companies. As per the provisions related to CSR, eligible companies need to file a CSR Report on annual basis. What are the contents of CSR report ?
Answer & Explanation:
The Board of the Company is mandated to prepare a CSR Report under Section 134(3)(0) of the Companies Act, 2013. The Companies (CSR Policy) Rules, 2014 provides for the format for reporting CSR activities annually. The format for the annual report on CSR activities to be included in the Board's report is as follows: Brief outline on CSR Policy of the Company. The Composition of the CSR Committee. Web-link where Composition of CSR committee, CSR Policy and CSR projects approved by the board are disclosed on the website of the company. Details of Impact assessment of CSR projects carried out in pursuance of sub-rule (3) of rule 8 of the Companies (Corporate Social responsibility Policy) Rules, 2014. Details of the amount available for set off in pursuance of sub-rule (3) of rule 7 of the Companies (Corporate Social responsibility Policy) Rules, 2014 and amount required for set off for the financial year, if any. Average net profit of the Company as per Section 135(5). Two percent of average net profit of the company as per section 135(5): Surplus arising out of the CSR projects or programmes or activities of the previous financial years Amount required to be set off for the financial year, if any Total CSR obligation for the financial year (7a+7b-7c). CSR amount spent or unspent for the financial year in the table provided Details of CSR Amount spent against Ongoing Projects for the financial year in the table provided: Details of CSR Amount spent against other than Ongoing Projects for the financial year in the table provided: Amount Spent in Administrative Overheads Amount Spent on Impact Assessment Total Amount Spent for the Financial Year (8b+8c+8d+8e) Excess Amount for Set Off, if any Details of Unspent CSR amount for the preceding three financial years Details of CSR amount spent in the financial year for Ongoing Projects of the preceding financial years Details relating to the asset so created or acquired through CSR spent in the financial year; Date of Creation of Acquisition of the Capital Asset(s) Amount of CSR spent for creation or acquisition of capital asset Details of the entity or public authority or beneficiary under whose name such capital asset is registered, their address etc. Details of the capital asset(s) created or acquired (including complete address and location of the capital asset).
Topics: Corporate Social Responsibility (CSR)
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