Companies
(Corporate Social Responsibility Policy) Amendment Rules, 2022
[20th
September 2022]
In exercise of the powers
conferred under section 135 and sub-sections (1) and (2) of section 469 of the
Companies Act, 2013 (18 of 2013), the Central Government hereby makes the
following rules further to amend the Companies (Corporate Social Responsibility
Policy) Rules, 2014, namely:-
Rule - 1. Short title and commencement.
(1)
These rules may be called the Companies
(Corporate Social Responsibility Policy) Amendment Rules, 2022.
(2)
They shall come into force on the date of
their publication in the Official Gazette.
Rule - 2.
In the Companies (Corporate Social Responsibility Policy) Rules, 2014
(hereinafter referred to as the said rules), in rule 3, -
(i)
in sub-rule (1), after the proviso, the
following proviso shall be inserted, namely: -
"Provided further that
a company having any amount in its Unspent Corporate Social Responsibility
Account as per sub-section (6) of section 135 shall constitute a CSR Committee
and comply with the provisions contained in sub-sections (2) to (6) of the said
section.";
(ii)
sub-rule (2) shall be omitted.
Rule - 3.
In the said rules, in rule 4, for sub-rule (1), the following sub-rule shall be
substituted, namely: -
(1)
The Board shall ensure that the CSR
activities are undertaken by the company itself or through, -
(a)
a company established under section 8 of the
Act, or a registered public trust or a registered society, exempted under
sub-clauses (iv), (v), (vi) or (via) of clause (23C) of section 10 or
registered under section 12A and approved under 80 G of the Income Tax Act,
1961 (43 of 1961), established by the company, either singly or along with any
other company; or
(b)
a company established under section 8 of the
Act or a registered trust or a registered society, established by the Central
Government or State Government; or
(c)
any entity established under an Act of
Parliament or a State legislature; or
(d)
a company established under section 8 of the
Act, or a registered public trust or a registered society, exempted under
sub-clauses (iv), (v), (vi) or (via) of clause (23C) of section 10 or registered
under section 12A and approved under 80 G of the Income Tax Act, 1961, and
having an established track record of at least three years in undertaking
similar activities.
Explanation.- For the
purpose of clause (c), the term "entity" shall mean a statutory body
constituted under an Act of Parliament or State legislature to undertake
activities covered in Schedule VII of the Act..
Rule - 4.
In the said rules, in rule
8, in sub-rule (3), in clause (c),-
(i)
for the words "five percent", the
words "two per cent." shall be substituted;
(ii)
for the words "whichever is less",
the words "whichever is higher" shall be substituted.
Rule - 5.
In the said rules, for Annexure-II, the following Annexure shall be
substituted, namely:-
"ANNEXURE
-II
FORMAT FOR THE ANNUAL REPORT ON CSR ACTIVITIES TO BE
INCLUDED IN THE BOARDS REPORT FOR FINANCIAL YEAR COMMENCING ON OR AFTER THE 1ST
DAY OF APRIL, 2020
(1)
Brief outline on CSR
Policy of the Company:
(2)
Composition of CSR Committee:
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Sl.
No.
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Name of Director
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Designation
/ Nature of
Directorship
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Number of meetings of CSR Committee
held during the year
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Number of meetings of CSR Committee
attended during the year
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(3)
Provide the web-link(s) 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 executive summary along with
web-link(s) of Impact Assessment of CSR Projects carried out in pursuance of
sub-rule (3) of rule 8, if applicable.
(5)
(a) Average net profit of the company as per
sub-section (5) of section 135.
(b) Two percent of average
net profit of the company as per sub-section (5) of section 135.
(c) Surplus arising out of
the CSR Projects or programmes or activities of the previous financial years.
(d) Amount required to be
set-off for the financial year, if any.
(e) Total CSR obligation for
the financial year [(b)+(c)-(d)].
(6)
(a) Amount spent on CSR Projects (both
Ongoing Project and other than Ongoing Project).
(b) Amount spent in
Administrative Overheads.
(c) Amount spent on Impact
Assessment, if applicable.
(d) Total amount spent for
the Financial Year [(a)+(b)+(c)].
(e) CSR amount spent or
unspent for the Financial Year:
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Total
Amount Spent for
the Financial Year. (in Rs.)
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Amount Unspent (in Rs.)
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Total Amount transferred to Unspent
CSR Account as per sub-
section (6) of section
135.
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Amount transferred to any fund
specified under Schedule VII as per second proviso to sub-section (5)
of section 135.
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Amount.
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Date of transfer.
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Name of the Fund
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Amount.
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Date of transfer.
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(f) Excess amount for set-off, if any:
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Sl. No.
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Particular
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Amount
(in Rs.)
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(1)
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(2)
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(3)
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(i)
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Two
percent of average net profit of the company as per sub-section (5) of
section 135
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(ii)
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Total
amount spent for the Financial Year
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(iii)
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Excess
amount spent for the Financial Year [(ii)-(i)]
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(iv)
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Surplus
arising out of the CSR projects or programmes or activities of the previous
Financial Years, if any
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(v)
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Amount
available for set off in succeeding Financial Years [(iii)-(iv)]
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(7)
Details of Unspent Corporate Social
Responsibility amount for the preceding three Financial Years:
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1
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2
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3
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4
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5
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6
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7
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8
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Sl.
No.
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Preceding Financial Year(s)
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Amount transferred to Unspent CSR
Account under sub- section (6) of
section 135 (in Rs.)
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Balance Amount in Unspent CSR
Account under sub-
section (6) of
section 135 (in Rs.)
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Amount Spent in the Financial Year
(in Rs)
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Amount transferred to a Fund as
specified under Schedule VII as per second proviso to sub- section (5) of
section 135, if any
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Amount remaining to be spent in
succeeding Financial Years (in Rs)
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Deficie ncy, if any
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Amount (in Rs)
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Date of Transfer
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1
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FY-1
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2
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FY-2
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3
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FY-3
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(8)
Whether any capital assets have been created
or acquired through Corporate Social Responsibility amount spent in the
Financial Year:
Yes No
If Yes, enter the number of
Capital assets created/ acquired Furnish the details relating to such asset(s)
so created or acquired through Corporate Social Responsibility amount spent in
the Financial Year:
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Sl.
No.
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Short particulars of the property or
asset(s)
[including complete address and
location of the property]
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Pincode of the property or asset(s)
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Date of creation
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Amount of CSR amount spent
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Details of entity/ Authority/
beneficiary of the registered owner
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(1)
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(2)
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(3)
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(4)
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(5)
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(6)
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CSR
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Name
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Registered
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Registration
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address
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Number, if
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applicable
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(All the fields should be
captured as appearing in the revenue record, flat no, house no, Municipal
Office/Municipal
Corporation/ Gram panchayat are to be specified and also the area of the
immovable
property as well as
boundaries)
(9)
Specify the reason(s), if the company has
failed to
spend two per cent of the
average net profit as per subsection (5) of section 135.
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Sd/-
(Chief Executive Officer or Managing Director or Director).
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Sd/-
(Chairman CSR Committee).
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Sd/-
[Person specified under clause (d) of sub- section (1) of section 380]
(Wherever applicable).â€.
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Rule - 6.
In the said rules, in the e-form CSR-1, for serial number 1 and the entries
relating thereto, the following serial number shall be substituted, namely:-
(1)
"1. *Nature of the entity
- Company established under
section 8, exempted under sub-clauses (iv), (v), (vi) or (via) of clause (23C)
of section 10 and approved under section 80G of the Income Tax Act, 1961.
- Company established under
section 8, registered under section 12A and approved under section 80G of the
Income Tax Act, 1961.
- Registered public trust,
exempted under sub-clauses (iv), (v), (vi) or (via) of clause (23C) of section
10 and approved under section 80G of the Income Tax Act, 1961.
- Registered public trust,
registered under section 12A and approved under section 80G of the Income Tax
Act, 1961.
- Registered society,
exempted under sub-clauses (iv), (v), (vi) or (via) of clause (23C) of section
10 and approved under section 80G of the Income Tax Act, 1961.
- Registered society,
registered under section 12A and approved under section 80G of the Income Tax
Act, 1961.
- Company established under
section 8 or registered Trust or registered Society established by the Central
Government or State Government.
- Entity established under
an Act of Parliament or State Legislature.".