NON-ACADEMIC ICAI UPDATE (NOT RELEVANT FOR EXAMS BUT FOR GENERAL AWARENESS)
Hello Everyone,
Please find text of the Frequently Asked Questions (FAQs) on Corporate Social Responsibility (CSR) as issued by the Ministry of Corporate Affairs on 25th August, 2021 notification below –
Frequently Asked Questions (FAQs) on Corporate Social Responsibility (CSR) as issued by the Ministry of Corporate Affairs on 25th August, 2021
Corporate Laws & Corporate Governance Committee The Institute of Chartered Accountants of India
26th August, 2021
ANNOUNCEMENT
Sub: Frequently Asked Questions (FAQs) on Corporate Social Responsibility (CSR) as issued by the Ministry of Corporate Affairs on 25th August, 2021
This is to inform you that the Ministry of Corporate Affairs vide its General Circular no 14/2021 dated 25th August 2021 has issued Frequently Asked Questions (FAQs) on Corporate Social Responsibility (CSR) to facilitate a better understanding and effective implementation of the CSR provisions as provided under the Companies Act, 2013 read with Rules thereunder.
The aforementioned FAQs on CSR has been brought out by the MCA to clarify various issues of the stakeholders that have been emanated from the amendments brought out to the CSR provisions which were notified on 22nd January, 2021 and various other Notifications and Circulars of the Ministry.
The FAQs on CSR broadly covers the following areas:
Applicability of CSR
CSR Framework
CSR Expenditure
CSR Activities
CSR Implementation
On-going Project
Treatment of Unspent CSR Amount
CSR Enforcement
Impact Assessment
CSR Reporting & Disclosure
Accordingly, the said FAQs have been issued in suppression of the various clarifications and FAQs issued by the MCA earlier in respect of the CSR provisions.
FAQs on CSR as issued by the MCA is available at the link- https://resource.cdn.icai.org/66218clcgc53480.pdf
Members may take note of the above and plan accordingly.
Sincerely Yours,
Chairman and Vice Chairman
Corporate Laws & Corporate Governance Committee The Institute of Chartered Accountants of India
Official Link of Frequently Asked Questions (FAQs) on Corporate Social Responsibility (CSR) as issued by the Ministry of Corporate Affairs on 25th August, 2021 notification can be accessed from below –
https://resource.cdn.icai.org/66226clcgc53500.pdf
That’s all for now. Stay Connected for more such authentic updates.
Jai Hind, Vande Mataram
Team CA Study
