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New Companies Bill

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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The New Companies Bill on CSR

The New Companies Bill was finally passed in Rajya Sabha on 8th August 2013, making it mandatory for profit making companies to spend on activities related to Corporate Social Responsibility (CSR). With the new legislation, India would possibly become the first country to have Corporate Social Responsibility (CSR) spending through a statutory provision. The new Bill mandates that every company having a net worth of Rs 500 crore or more,

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