Unspent CSR Fund of Trust
This query is : Resolved
13 October 2021
We are manufactures of Mobile accessories and have transferred Rs. 1 Crs to a Trust for our CSR compliance now if the trust does not utilise whole fund
Will Unspent Fund paid to Trust will be considered as the appliacation of money for CSR compliance or not
Will Unspent Fund paid to Trust will be considered as the appliacation of money for CSR compliance or not
14 October 2021
Funds transferred to the trust registered under CSR with MCA will be considered as application of money for CSR compliance.
14 October 2021
Dear Sir,
As per Auditors, mere disbursal of funds to trust could not be considered as compliance of CSR Liability.
Fund must be spent during the FY, otherwise liable for penalty as per FAQ's issued by MCA on 25th Aug-21
Kindly guide with rulings
As per Auditors, mere disbursal of funds to trust could not be considered as compliance of CSR Liability.
Fund must be spent during the FY, otherwise liable for penalty as per FAQ's issued by MCA on 25th Aug-21
Kindly guide with rulings
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