Provisions for CSR compliance by companies, as prescribed under Section 135 of the Act, have the force of law.
This is the first year of CSR implementation by companies under the Act. The likely amount of CSR expenditure for the year 2014-15 would be known only after the Annual Financial Statements are filed by companies due after September, 2015. It may be prudent to not speculate on the quantum of CSR expenditure at this stage.
This was stated by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Rajya Sabha today. (Source- PB Press Release Dated -09-December-2014)