Unspent Corporate Social Responsibility Account

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Accounts Manager
5 Points Posted on 17 March 2020

Can anyone share the detailed opinion whether unspent corporate Social Responsibility Account needs to be opened compulsory before 31 Marsh 2020? What if the fund available for the year has been spent totally ?

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On 17 March 2020 at 16:55 Report
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This discussion clarifies the requirement for opening an unspent Corporate Social Responsibility (CSR) account. It's generally only compulsory if allocated CSR funds remain unspent and relate to an ongoing activity. If the allocated amount for the year has been fully spent, there's no need to open a separate unspent CSR account.

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Unspent Corporate Social Responsibility Account has to be openend only in the case when amount allocated to CSR policy remain unspent and that unspent amount relates to an ongoing activity.

Hence if allocated amount is fully spent then there is no need to open such account
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On 19 March 2020 at 00:26
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Accounts Manager
5 Points Posted on 19 March 2020

Thanks sir for your valuable inputs

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On 19 March 2020 at 16:16
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You are Welcome Mr. Trushar
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On 19 March 2020 at 16:32

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