Companies Act

CSR activities through charitable company trust society and track record requirement. The Companies CSR (Policy) Amedment Rules 2016-MCA Notification

CSR activities through charitable company trust society and track record requirement. 

MINISTRY OF CORPORATE AFFAIRS

Notification 

New Delhi, the 23rd May, 2016

G.S.R. 540(E).—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:—

1. Short title and commencement – (1) These rules may be called the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2016.
(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Companies (Corporate Social Responsibility Policy) Rules, 2014, in rule 4, for sub-rule (2), the following sub-rule shall be substituted, namely:—

“(2) The Board of a company may decide to undertake its CSR activities approved by the CSR Committee, through

(a) a company established under section 8 of the Act or a registered trust or a registered society, established by the company, either singly or alongwith 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 any entity established under an Act of Parliament or a State legislature :

Provided that- if, the Board of a company decides to undertake its CSR activities through a company established under section 8 of the Act or a registered trust or a registered society, other than those specified in this sub-rule, such company or trust or society shall have an established track record of three years in undertaking similar programs or projects; and the company has specified the projects or programs to be undertaken, the modalities of utilisation of funds of such projects and programs and the monitoring and reporting mechanism”.

[F. No. 05/12/2016-CSR-Cell]

AMARDEEP SINGH BHATIA, Joint Secy.

Note.—The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 129(E), dated the 27th February, 2014 and were subsequently amended by notification number G.S.R. 644(E), dated the 12th September, 2014 and notification number G.S.R. 43(E), dated the 19th January, 2015.

Share

Recent Posts

  • Empanelment

FDCM invites application for empanelment of practising CAs/ Chartered Accountant Firms

Invitation For Empanelment Of Practising Chartered Accountants / Chartered Accountant Firms Forest Development Corporation of Maharashtra Limited (FDCM Limited), Nagpur,…

2 days ago
  • Empanelment

PGRI invites application for CAs for empanelment for Circulation Verification work

Press Registrar General of India (PGRI) invites application for empanelment of Chartered Accountants. The Press Registrar General of India manages…

2 days ago
  • Income Tax

CBDT notifies revised Form for registration as valuer & authorised income tax practitioner

CBDT notifies revised Form No. 169 for making application for registration as a valuer under section 514 and authorised income…

2 days ago
  • Income Tax

Curtailing time to file reply to notice u/s 148A(b) from 30 days prejudiced assessee’s right – HC

Curtailing time to file reply to notice u/s 148A(b) from statutorily available 30 days to 15 days seriously prejudiced assessee’s…

3 days ago
  • Income Tax

For registration u/s 12AB, applicability of proviso to section 2(15) can’t be adjudicated

At the stage of registration u/s 12AB, the CIT(E) not empowered to adjudicate applicability of provisio to section 2(15) of…

4 days ago
  • Income Tax

Flower bed area not included in “built up area” to calculate eligible limit u/s 80IB(10)

Flower bed area could not be included in the definition of “built up area” to calculate eligible limit of 1000…

5 days ago