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csr scrutiny from april 2022

CSR spending of companies under scrutiny from April 2022

Corporate social responsibility (CSR) spending performance of companies is about to return under scrutiny from 1st April 2022, when the primary cycle of reporting under the new penalty regime gets completed, said an individual with knowledge of the matter. The maturity for reporting CSR compliance during a new format introduced in February is that the end of March after the penalty provision for defaulting on spending obligation came into effect

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CSR Spends : Most benefitted 10 States

A report released by Ministry of Corporate Affaires, in the FY 2020-21, over 80% of the funds has gone to ten states which include, Maharashtra, Gujarat, Andhra Pradesh, Karnataka, Uttar Pradesh, Tamil Nadu, Odisha, Rajasthan, Haryana and Madhya Pradesh, as per their gross state domestic product (GSDP).  These states together received ₹4,135.5 crores in FY21, out of the ₹5,004 crore CSR spending by companies. Small and far-flung states get a

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Detailed CSR disclosure framework introduced by MCA

The authorities has installed location an in depth disclosure framework for CSR spending through businesses, with specialists pronouncing the circulate will assist decorate transparency however on the identical time, is likewise in all likelihood to growth the compliance burden. Form CSR-2 (Report on Corporate Social Responsibility) has been notified through the company affairs ministry. Under the Companies Act, 2013, profit making companies are required to shell out at the least

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