CSR FORM
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CSR Form
What is CSR Form?
Corporate Social Responsibility (CSR) is a rapidly growing field that sees frequent advancements. Throughout the Covid-19 pandemic and subsequent years, the Ministry of Corporate Affairs has provided monthly notifications informing corporations about whether expenditures qualify as CSR spend. Thus, the Government has attempted to establish a private-public partnership to channel CSR monies toward combating the pandemic, rehabilitating society from the pandemic's after effects, and repositioning the economy on a growth trajectory. One of the most recent such announcements recommended that CSR monies raise awareness and conduct public outreach for the Covid-19 vaccine programme.
Step 1:
(1) The Board shall guarantee that CSR projects are carried out by the Association or through one of the following: (a) a company authorized under section 8 of the Act, or a registered public trust or a registered society registered under sections 12A and 80 G of the Income Tax Act, 1961 (43 of 1961), established by the Company alone or in conjunction with another company; or (b) a company established under section 8 of the Act.
Step 2:
(2) (a) With effect from the 01st day of April 2021, any entity covered by sub-rule
(1) that intends to engage in any CSR enterprise shall record including the Central Government by electronically filing the form CSR-1 with the Registrar.
(b) The entity shall electronically sign and submit Form CSR-1, in which a Chartered Accountant shall digitally validate a Company Secretary in practice or a Cost Accountant in practice.
(c) Upon submitting the Form CSR-1 via the portal, the system will automatically produce a unique CSR Registration Number.
Step 3:
The 26As can be accessed by clicking on the 'View Form 26AS (Tax Credit)' link located beneath my account tab.
Step 4:
(4) A company may also work with other businesses to carry out projects, programmes, or CSR activities, provided that the CSR committees of the various companies can report independently on such projects, programmes, or CSR activities in line with these regulations.
Step-5:
(5) The Board of Directors of a firm shall satisfy itself that the monies disbursed have been used for the purposes and in the manner approved by the Board, and the Chief Financial Officer or another person responsible for financial management shall declare as such.
Step 6:
(6) In the case of an ongoing project, the Board of Directors of a Company shall monitor its implementation by the approved timelines and year-by-year allocation. It shall be competent to make necessary modifications to ensure the project is completed within the overall permissible period."
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Requirements
Documents Required
PAN CARD
Need Pan Card of all Shareholders and Directors, Foreign Directors must be required a valid Passport with validated or apostilled
PHOTOGRAPH
Updated Passport size photos of all Participators / Shareholders and Directors.
IDENTITY PROOF
Need identity proof: - Aadhar Card/ Voter ID/Passport/ Driving License of all Shareholders and Directors.
ADDRESS PROOF
Updated Electricity Bill/ Telephone Bill / Bank Account Statement of all Shareholders & Directors.
FOR REGISTERED OFFICE
Rent agreement
Valid Rent agreement, Utility bills:- telephone bill, electricity bill, and municipal (It should be last 2 Months) NOC From Owner.
NOC From Owner.
Post Company Registration Requirements?
Once the Company registration is completed, you have to take the necessary steps in order to make a strong presence in the industry.
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