Reg:CSR Rule Eligibility Criteria

[Narayan S]

Dear Members,

I am confused on taking into consideration the eligibility criteria for reckoning the applicability of CSR provisions.

In the section 135 they mention as "any financial year" and in CSR rules (2) mention the term "three consecutive financial years". 

Based on the above should we check only the last 3 financial years falling before 1st April 2014 to consider the eligibility criteria or we have to check for all the financial year right from the incorporation of the company to check on the eligibility criteria.

Please clarify. Kindly share any article which clears the above understanding.

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Regards
S.Narayan

[CS A Rengarajan]

only  last  three  preceding  financial  years to be  taken  for  CSR  funding

regards

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CS A Rengarajan

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[Narayan S]

Dear Member

Thank you for your quick response. 

I am clear that for funding we have to take last 3 financial year's average profits. But for checking the eligibility criteria should we have to take last 3 financial years or any financial year from inception.

Regards

S.Narayan

Regards
S.Narayan

[c.n. krishnan]

only last year to be taken. and if in any subsequent block of 3 years, the eligibility criteria is not met, the co will be exempt from csr,