https://www.taxtmi.com/acts?id=35035 Amendments to section 135 require that where a company has not completed three financial years, CSR obligations be measured over its actual preceding years; unspent CSR must be transferred to a specified fund unless it relates to an ongoing project meeting prescribed conditions. For ongoing projects, companies must open an Unspent Corporate Social Responsibility Account within thirty days and spend the amount within three financial years, failing which the amount must be transferred to the specified fund. Penalties apply for contraventions and the Central Government may issue directions to ensure compliance. en-us Mon, 14 Jan 2019 14:17:28 +0530 Fri, 02 Aug 2019 11:52:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=35035 Amendments to section 135 require that where a company has not completed three financial years, CSR obligations be measured over its actual preceding years; unspent CSR must be transferred to a specified fund unless it relates to an ongoing project meeting prescribed conditions. For ongoing projects, companies must open an Unspent Corporate Social Responsibility Account within thirty days and spend the amount within three financial years, failing which the amount must be transferred to the specified fund. Penalties apply for contraventions and the Central Government may issue directions to ensure compliance. Act-Rules F. Acts / Amendment Acts Mon, 14 Jan 2019 14:17:28 +0530 https://www.taxtmi.com/acts?id=35035