CSR funding for a society

[Nishtha Jain]

If a society is established by a company, along with several other companies, are all companies allowed to fund the society for their CSR activity, while availing exemption from 3 years track record requirement for the society? Can such society accept funding from other entities who are not members and can such entities claim CSR expenditure ?

As per CSR policy rules, it states that a society must be established by the company, either singly or with any other company. And as society needs to have minimum 7 members, so in this case do all 7 members need to be companies or can they be individuals who represents the companies forming such society?

AI Summary

CSR implementing agency rules allow a company-established society to receive funding and exempt founding companies from track record requirements.
CSR activities may be carried on through a registered society established by a company, either alone or jointly with other companies, and the three-year track record requirement does not apply where the implementing agency is so established. Once the society is registered as an eligible implementing agency under the CSR framework, it may receive CSR funding from other companies as well, and those contributing companies may generally treat the expenditure as CSR spend if the activity falls within Schedule VII and the remaining statutory and disclosure conditions are met.