CSR Registration in India
Key Points:
Mandatory Provision: India is the only country that has regulated and mandated CSR for select categories of companies registered under the Act.
Sustainable Development Goals: CSR initiatives contribute to achieving sustainable development goals and foster public-private partnerships in transforming India.
CSR Registration Process
To undertake CSR activities, entities (including NGOs) must register themselves with the Central Government. Here are the steps:
Unique CSR Registration Number:
Upon submitting form CSR-1, a unique CSR Registration Number will be generated for the entity.
Remember, timely CSR registration ensures compliance and allows companies to contribute effectively to social welfare initiatives. With assistance from Veda EduLearn commence your CSR activities, make sure to complete the registration process to maximize your impact! ��
Successful companies have a social responsibility to make the world a better place, extending beyond corporate philanthropy. In India, the enactment of the Companies Act, 2013 by the Ministry of Corporate Affairs made CSR a mandatory provision. Companies with a net profit or Rs. 5 crore & above are now obligated to spend minimum 2% of such profits in CSR projects towards social welfare activities..
Eligibility:
Be a registered Indian charity or non-profit organization.
Have an Indian bank account.
Possess a valid PAN card.
Submit annual financial statements.
Comply with all other applicable laws and regulations.
Form CSR-1 Filing:
As of April 1, 2021, every entity intending to undertake CSR activities must register by filing Form CSR-1 electronically with the Registrar of Companies.
NGOs must register to receive CSR funds from corporations and companies.
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