The MCA vide its notification dated 11th February, 2022 has notified Companies (Accounts) Amendment Rules, 2022 which shall come into force from 11th February 2022.
In the Companies (Accounts) Rules, 2014, after Rule 12 (1A) the following shall be inserted:
“(1B) Every company covered under the provisions of sub-section (1) to section 135 shall furnish a report on Corporate Social Responsibility in Form CSR-2 to the Registrar for the preceding year (2020-2021) and onwards as an addendum to form AOC-4 or AOC-4 XBRL or AOC-4 NBFC (Ind AS), as the case may be:
Provided that for the preceding year (2020-2021), Form CSR-2 shall be filed separately on or before 31st March, 2022, after filing form AOC-4 or AOC-4 XBRL or AOC-4 NBFC (Ind AS), as the case may be.”
Comments: The newly introduced form CSR-2 (report on Corporate Social Responsibility) is required to be filed by those entities which fall under the provisions of Section 135 of the Companies Act, 2013, i.e., the companies which are required to comply with the provisions of Corporate Social Responsibility (CSR).
Due date of CSR-2:
i. F. Y. 2020-21: separately on or before 31st March, 2022
ii. F. Y. 2021-22 onwards: as an addendum to form AOC-4 (due date of AOC-4)
In the author’s opinion, introduction of form CSR-2 is a revolutionary change and it is very important from Company’s end to comply with the said amendment with utmost care and diligence.
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