Frequently Asked Questions (FAQs) on Corporate Social Responsibility (CSR) as issued by the Ministry of Corporate Affairs on 25th August, 2021

Frequently Asked Questions (FAQs) on Corporate Social Responsibility (CSR) as issued by the Ministry of Corporate Affairs on 25th August, 2021 2

NON-ACADEMIC ICAI UPDATE (NOT RELEVANT FOR EXAMS BUT FOR GENERAL AWARENESS)

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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

Frequently Asked Questions (FAQs) on Corporate Social Responsibility (CSR) as issued by the Ministry of Corporate Affairs on 25th August, 2021 3 Frequently Asked Questions (FAQs) on Corporate Social Responsibility (CSR) as issued by the Ministry of Corporate Affairs on 25th August, 2021 4 Frequently Asked Questions (FAQs) on Corporate Social Responsibility (CSR) as issued by the Ministry of Corporate Affairs on 25th August, 2021 5

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.

Frequently Asked Questions (FAQs) on Corporate Social Responsibility (CSR) as issued by the Ministry of Corporate Affairs on 25th August, 2021 6 Frequently Asked Questions (FAQs) on Corporate Social Responsibility (CSR) as issued by the Ministry of Corporate Affairs on 25th August, 2021 7 Frequently Asked Questions (FAQs) on Corporate Social Responsibility (CSR) as issued by the Ministry of Corporate Affairs on 25th August, 2021 8

The FAQs on CSR broadly covers the following areas:

Applicability of CSR

CSR Framework

CSR Expenditure

Frequently Asked Questions (FAQs) on Corporate Social Responsibility (CSR) as issued by the Ministry of Corporate Affairs on 25th August, 2021 9 Frequently Asked Questions (FAQs) on Corporate Social Responsibility (CSR) as issued by the Ministry of Corporate Affairs on 25th August, 2021 10 Frequently Asked Questions (FAQs) on Corporate Social Responsibility (CSR) as issued by the Ministry of Corporate Affairs on 25th August, 2021 11 Frequently Asked Questions (FAQs) on Corporate Social Responsibility (CSR) as issued by the Ministry of Corporate Affairs on 25th August, 2021 12

CSR Activities

CSR Implementation

On-going Project

Treatment of Unspent CSR Amount

CSR Enforcement

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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

Frequently Asked Questions (FAQs) on Corporate Social Responsibility (CSR) as issued by the Ministry of Corporate Affairs on 25th August, 2021 9 Frequently Asked Questions (FAQs) on Corporate Social Responsibility (CSR) as issued by the Ministry of Corporate Affairs on 25th August, 2021 10 Frequently Asked Questions (FAQs) on Corporate Social Responsibility (CSR) as issued by the Ministry of Corporate Affairs on 25th August, 2021 11 Frequently Asked Questions (FAQs) on Corporate Social Responsibility (CSR) as issued by the Ministry of Corporate Affairs on 25th August, 2021 12

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 –

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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

Frequently Asked Questions (FAQs) on Corporate Social Responsibility (CSR) as issued by the Ministry of Corporate Affairs on 25th August, 2021 17

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