Corporate Social Responsibility (CSR) checklist as per CSR Policy Amendment Rules, 2021 explains nature of Compliance as required CSR Policy Rules, 2014, Due date of Compliance, Description of CSR Compliance and Remarks related to Compliance. Article also contains Format for the Annual Report on CSR Activities to Be Included in the Board’s Report
Corporate Social Responsibility (CSR) checklist as per CSR Policy Amendment Rules, 2021
|No.||Nature of Com-pliance||Due Date||Description||Remark|
|1.||Form CSR 1||Form is expected to be deployed on MCA website in April First week||Mandatory Registration of Entities with ROC||Implementing agencies to get itself registered in Form CSR-1 and get a unique CSR registration number and also ensure that the|
|2.||Website Disclosures||Immediate||Following Disclosure needs to be made on website :
||CSR Policy is already on website,|
|3.||CSR Expenditure||1)Within a period of 6 months of expiry of Financial Year
2) up to immediate succeeding 3 Financial Years, **subject to condition
|1) SURPLUS out of CSR Activities – Not to form part of business profits and to be ploughed back in same project,
*Transfer to Unspent CSR A/C
2) Amount spent in EXCESS of requirement – Set Off against CSR spending
** a) excess amount shall not include the surplus arising out of the CSR activities,
b) Passing of board resolution to that effect.
|Pass an enabling Board resolution to allow company to set off excess amount spent on CSR activities for 3 financial years.|
|4.||*Transfer to Unspent CSR A/C||For Point:
b) Within 30 days of end of Financial Year
c)Within 6 months of end of Financial Year
|Board shall specify reason for the same:
a. Analyse the “unspent” amount:
b. Pertaining to “ONGOING PROJECT” -transfer to unspent CSR A/C
c. Or else transfer to National Unspent Fund
|5.||Amount spent for creation or acquisition of Capital Asset||Within 180 days i.e., by 21st July 2021 or addit-ional period of 90 days with board approval||For Existing Capital Assets||Transfer existing Capital asset|
|6.||Impact Assessment through an independent agency
(Every company having average CSR obligation of INR 10 Cr. or more in 3 immediately FYs shall undertake impact assessment, through an independent agency)
|Immediate||CSR Impact Assessment Report shall form part of Board’s Report.||Impact assessment is required to be taken for the projects with outlay of 1 Cr or more, and 1 year has passed from project completion.|
|7.||CSR Committee to formulate and recommend the board, an annual action plan||Immediate||Plan to include following:
(a) the list of CSR projects or programmes that are approved to be undertaken;
(b) the manner of execution i.e., directly or indirectly through agency
(c) the modalities of utilisation of funds and implementation schedules;
(d) monitoring and reporting mechanism
(e) details of need and impact assessment, if any
> Board may alter such plan on reasonable justification
> In case of ongoing project- Board to monitor implementation with reference to approved timelines and year wise allocation
> Board competent for other modifications as required
|Amend existing CSR Policy to include Annual action plan. This requires Board and CSR committee approval.|
|8.||Change in Board report||Immediate||The Board’s Report of a company covered under CSR rules pertaining to any financial year shall include an annual report on CSR||The CSR Annexure under the Board report needs to be modified as per Annexure A.|
|9.||Identification of ongoing projects||Immediate||We need to name our existing multi-year projects as “ongoing projects” and take note of the project wise budget for the next three years||This requires Board and CSR committee approval.|
|10.||End use of CSR fund and Certification||Im-mediate||The Board of a company shall satisfy itself that the CSR funds disbursed have been utilised for the purposes and in the manner as approved by it and the Chief Financial Officer or the person responsible for financial management shall certify to the effect.||Proper noting in minutes and certificate by CFO..|
FORMAT FOR THE ANNUAL REPORT ON CSR ACTIVITIES TO BE INCLUDED IN THE BOARD’S REPORT
FOR FINANCIAL YEAR COMMENCING ON OR AFTER 1ST DAY OF APRIL, 2020
1. Brief outline on CSR Policy of the
2. Composition of CSR Committee:
|Sl. No.||Name of Director||Designation / Nature of Directorship||Number of meetings of CSR Committee held during the year||Number of meetings of CSR Committee attended during the year|
3. Provide the web-link where Composition of CSR committee, CSR Policy and CSR projects approved by the board are disclosed on the website of the Company.
4. Provide the details of Impact assessment of CSR projects carried out in pursuance of sub-rule (3) of rule 8 of the Companies (Corporate Social responsibility Policy) Rules, 2014, if applicable (attach the report).
5. Details of the amount available for set off in pursuance of sub-rule (3) of rule 7 of the Companies (Corporate Social responsibility Policy) Rules, 2014 and amount required for set off for the financial year, if any
|Sl. No.||Financial Year||Amount available for set-off from preceding financial years (in Rs)||Amount required to be set- off for the financial year, if any (in Rs)|
6. Average net profit of the company as per section 135(5).
7. (a) Two percent of average net profit of the company as per section 135(5)
(b) Surplus arising out of the CSR projects or programmes or activities of the previous financial
(c) Amount required to be set off for the financial year, if
(d) Total CSR obligation for the financial year (7a+7b-7c).
8. (a) CSR amount spent or unspent for the financial year:
Total Amount Spent for the Financial Year.
|Amount Unspent (in Rs.)|
|Total Amount transferred to Unspent CSR Account as per section 135(6).||Amount transferred to any fund specified under Schedule VII as per second proviso to section 135(5).|
|Amount.||Date of transfer.||Name of the Fund||Amount.||Date of transfer.|
(b) Details of CSR amount spent against ongoing projects for the financial year:
|Sl. No.||Name of the Project.||Item from the list of activities in Schedule VII to the Act.||Local area (Yes / No).||Location of the project.|
|Project duration.||Amount allocated for the project (in Rs.).||Amount spent in the current financial Year (in Rs.).||Amount transferred to Unspent CSR Account for the project as per Section 135(6) (in Rs.).||Mode of Implem-entation Direct (Yes/ No).||Mode of Implem-entation -Through Implementing Agency|
|Na-me||CSR Registration number.|
(c) Details of CSR amount spent against other than ongoing projects for the financial year:
|Sl. No.||Name of the Project||Item from the list of acti-vities in sche-dule VII to the Act.||Local area (Yes / No).||Location of the project.||Am-ount spent for the pro-ject (in Rs.).||Mode of impleme-ntation on – Direct (Yes / No).||Mode of impleme-ntation -Through implementing agency.|
|State.||District.||Name.||CSR regi-str-ation num-ber.|
(d) Amount spent in Administrative Overheads
(e) Amount spent on Impact Assessment, if applicable
(f) Total amount spent for the Financial Year (8b+8c+8d+8e)
(g) Excess amount for set off, if any
|Sl. No.||Particular||Amount (in Rs.)|
|(i)||Two percent of average net profit of the company as per section 135(5)|
|(ii)||Total amount spent for the Financial Year|
|(iii)||Excess amount spent for the financial year [(ii)-(i)]|
|(iv)||Surplus arising out of the CSR projects or programmes or activities of the previous financial years, if any|
|(v)||Amount available for set off in succeeding financial years [(iii)-(iv)]|
9. (a) Details of Unspent CSR amount for the preceding three financial years:
|Sl. No.||Preceding Financial Year.||Amount tran-sferred to Unspent CSR Account under section 135 (6) (in Rs.)||Amount spent in the repo-rting Financial Year (in Rs.).||Amount transferred to any fund specified under Schedule VII as per section 135(6), if any.||Amount re-maining to be spent in suc-ceeding fin-ancial years. (in Rs.)|
|Name of the Fund||Amount (in Rs).||Date of transfer.|
(b) Details of CSR amount spent in the financial year for ongoing projects of the preceding financial year(s):
|Sl. No.||Pro-ject ID.||Name of the Pro-ject.||Fina-ncial Year in which the project was com-menced.||Project dur-ation.||Total amount al-located for the project (in Rs.).||Amount spent on the project in the rep-orting Fin-ancial Year (in Rs).||Cum-ulative amount spent at the end of rep-orting Fin-ancial Year. (in Rs.)||Status of the pro-ject – Com-pleted / Ong-oing.|
10. In case of creation or acquisition of capital asset, furnish the details relating to the asset so created or acquired through CSR spent in the financial year (asset-wise details).
(a) Date of creation or acquisition of the capital asset(s).
(b) Amount of CSR spent for creation or acquisition of capital
(c) Details of the entity or public authority or beneficiary under whose name such capital asset is registered, their address
(d) Provide details of the capital asset(s) created or acquired (including complete address and location of the capital asset).
11. Specify the reason(s), if the company has failed to spend two per cent of the average net profit as per section 135(5).
(Chief Executive Officer or Managing Director or Director).
(Chairman CSR Committee).
[Person specified under clause (d) of sub-section (1) of section 380 of the Act] (Wherever applicable).