Affluence Advisory
Quick Summary
The Companies Act, 2013 (the Act) introduced the mandatory provisions of CSR and accordingly Section 135 of the Act and the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2022 [CSR Rules] framed thereunder govern CSR in India. Quick Comparison of Amendment to Rules made appli
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FAQ :
CSR in India is governed by Section 135 of the Companies Act, 2013, and the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2022.
The Companies (Corporate Social Responsibility Policy) Amendment Rules, 2022, were made applicable from 20th September 2022.
The amended rules make it mandatory for companies with unspent CSR amounts to constitute a CSR Committee and comply with specific sub-sections of Section 135.
The scope of entities that can assist companies with CSR implementation has been widened under the new rules.
Companies with an average CSR obligation of ten crore rupees or more must undertake impact assessments for projects costing one crore rupees or more, with specific reporting and expenditure rules.
The expenditure for impact assessment can be up to two percent of the total CSR expenditure for the financial year or fifty lakh rupees, whichever is higher.
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