CSR Registration

Service Details

What is CSR Registration?

Corporate Social Responsibility (CSR) Registration is a process through which businesses in India formally acknowledge and comply with the requirements set out under the Companies Act, 2013. CSR activities involve a company’s efforts to contribute to social, environmental, and economic development. CSR Registration ensures that a company’s CSR initiatives align with legal requirements and enhances transparency and accountability.

Benefits of CSR Registration

Adherence to Regulations: Ensures compliance with the Companies Act, 2013, thereby avoiding legal penalties and fostering trust.
Enhanced Reporting: Provides a structured approach to reporting CSR activities, promoting transparency.

Positive Public Image: Demonstrates a commitment to social and environmental causes, enhancing the company’s reputation.
Increased Trust: Builds trust with stakeholders, customers, and the community by showcasing a genuine commitment to CSR.

Deduction of CSR Expenditure: Companies may benefit from tax deductions on expenses incurred for CSR activities, within specified limits.

Enhanced Employee Morale: Engaging in meaningful CSR activities can improve employee satisfaction and retention.
Attracting Talent: A strong CSR profile helps attract top talent who are motivated by the company’s values and social impact.

Community Development: CSR initiatives can lead to improved relations with communities, contributing to local development and creating a positive business
Sustainable Business Practices: Promotes sustainable business practices and long-term growth by addressing social and environmental issues.

Documents Required for CSR Registration

Proof of the company’s registration and legal

Copy of the company’s Permanent Account Number (PAN) card.

Resolution passed by the Board of Directors approving CSR activities and budget.

A detailed CSR policy document outlining the company’s CSR objectives, strategies, and activities.

Latest audited financial statements to demonstrate the company’s financial status and CSR budget.

Information about the CSR Committee, including its composition and roles.

Documentation of ongoing or planned CSR activities, including project reports and agreements with implementing agencies.

Steps for CSR Registration

Create a comprehensive CSR policy document outlining the company’s CSR objectives, strategies, and activities. This policy should be approved by the Board of Directors.

Establish a CSR Committee consisting of members from the Board of Directors and senior management to oversee and implement CSR activities.

Gather all necessary documents including company registration, PAN card, board resolution, audited financial statements, CSR policy, and proof of CSR activities.

Log in to the Ministry of Corporate Affairs (MCA) portal (https://www.mca.gov.in/) and complete the necessary forms for CSR Ensure all documents are submitted accurately.

Submit an annual CSR report detailing the CSR activities, expenditures, and This report should be filed along with the company’s annual return.

Ensure ongoing compliance with CSR regulations by monitoring CSR activities, maintaining records, and addressing any issues that arise.

FAQs

Common Questions About Our Consulting Services

What is the mandatory CSR spending requirement for companies?

As per the Companies Act, 2013, companies with a net worth of ₹500 crore or more, turnover of ₹1000 crore or more, or a net profit of ₹5 crore or more are required to spend at least 2% of their average net profits of the last three years on CSR activities.

Can CSR funds be spent on activities outside India?

Generally, CSR funds must be spent on activities within India. However, there are exceptions for activities involving international organizations or projects specifically permitted under CSR rules.

How often do CSR policies need to be reviewed?

CSR policies should be reviewed annually to ensure they remain relevant and compliant with any changes in regulations or company objectives.

Is CSR registration a one-time process?