csr applicability

[RISHI]

If net profit before tax in previous year (31-03-2023) are less than 5 cr whether company is required to spend csr amount in current year 2023-24 as per latest provisions?

[sapna jain]

No, CSR is not applicable for current Year 2023-24..

CSR applicability is to be checked for every year as per latest provision.

[CS Ranjan Patel]

@ Sapna Jian will you please share the latest provision

[Shubhra garg]

Please share the provisions

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CS Shubhra Garg

[CS Rakesh Kumar]

Rule 3(2) has been omitted by  Companies (Corporate Social Responsibility Policy) Amendment Rules, 2022

(2) Every company which ceases to be a company covered under subsection (1) of section 135 of the Act for three consecutive financial years shall not be required to —

(a) constitute a CSR Committee; and

(b) comply with the provisions contained in 1[sub-section (2) to (6)] of the said section,

till such time it meets the criteria specified in sub-section (1) of section 135.

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Thanks & Best Regards

CS Rakesh Kumar

B. Com, MBA, FCS

Rakesh & Co.

(Company Secretaries)

ICSI Unique Code: S2017UP501100

Peer Review Certificate No.: 3466/2023

La Residentia, Tower-18, Flat-104

GH-06A, Tech Zone-IV, Greater Noida (W), Gautam Budh Nagar-201306, U.P.

Cell No.-+91-98119 09137

[Shubhra garg]

Yes Rule 3(2) has been omitted..but what about the expenditure. Do we need to continue spending it for the next 2 years or should it stop?

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CS Shubhra Garg

[CS Rakesh Kumar]

When section 135 (2) to (6) not applicable, then I think spending is also not applicable

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[CS Deeksha Mehrotra]

Hii...

Can anyone please guide me regarding CSR policy.

Does a Society who recently got registered under CSR, have to make a CSR policy draft?

If yes, can anyone please provide me the draft of the same.

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