As we all know, current Central Government is focusing on Digitalisation of India. In a recent move, they have launched National CSR Exchange portal to maintain a database of CSR Spending companies and NGOs that are eligible to receive CSR Funding i.e implementing agency. It is a platform where both CSR Spending company and registered NGO’s can interact with each other. The CSR Spending company has the benefit to get easy access of NGO’s that doing social welfare activities according to there requirements. Here, CSR Spending company get huge database of NGO’s where they can select the most suitable NGO to spend CSR Spending on social welfare according to their selection criteria.
Here, Corporate and implementing agency i.e NGO has to register to get access of Database and to interact with each other.
Registration requirement for Implementing Agency i.e NGO
1. The constitution of NGO must be Trust/ Society / Section 8 Company
2. The NGO Must be 3* Years Old
3. The NGO must have Section 80G And 12A Registration under Income Tax Act, 1961
4. The NGO must be registered with MCA and having Form CSR-1 registration
5. The NGO must be doing social welfare activities and having good experience of doing and implementing CSR funds/ donations
After completion of registration process, implementing agency will be able to login into CSR Exchange portal, where they will get access of Corporates which are registered on National CSR Exchange portal and willing to give CSR Fundings. Here, NGO (implementing agency) can upload their funds requirements along with their profiles, so that corporate can access their profile and if finds suitable for their project then they will contact you and disburse funds to NGO.
Benefit of registration with National CSR Exchange portal
In the current era of internet, you must be visible online. National CSR Exchange portal provides platform to the NGO where they can register themselves and can be easily approachable by Corporates that are wiling to provide CSR Funds.
FAQ’s
Q.1 We are a newly incorporated NGO and having Section 80G and 12A registration. Whether we are eligible for registration under National CSR Exchange portal?
Ans. No, you are not eligible to register on this portal. Your NGO must be 3* years old and having Form CSR-1 Registration to get register under this portal.
Q.2 Our NGO get registered under this portal few months back, however, till date we have not received any CSR funds. When we will get funding?
Ans. Registration under National CSR Exchange portal does not mean that you will get funding. It is a platform where both Corporate and NGO can get registered and if Corporate finds your profile suitable according to there criteria, then they will contact you and disburse funds.
*Exception of 3 Yrs old NGO criteria is same as applicable to Form CSR-1 Registration
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Disclaimer: This article is for the purpose of information and shall not be treated as solicitation in any manner and for any other purpose whatsoever. It shall not be used as legal opinion and not to be used for rendering any professional advice. This article is written on the basis of author’s personal experience and provision applicable as on date of writing of this article. Adequate attention has been given to avoid any clerical/arithmetical error, however; if it still persists kindly intimate us to avoid such error for the benefits of others readers. The Author “CA. Shiv Kumar Sharma” can be reached at mail –shivsharma786@gmail.com and Mobile/Whatsapp – 9911303737/ 9716118384
Author Bio
We would like to know CSR funding companies and illegibility criteria to apply.