CSR Implementation

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....tion 8 of the Act or a registered trust or a registered society, established by the Central Government or State Government; or (c) any entity established under an Act of Parliament or a State legislature; or (d) a company established under section 8 of the Act, or a registered public trust or a registered society, exempted under sub-clauses (iv), (v), (vi) or (via) of clause (23C) of section 10 or registered under section 12A and approved under 80 G of the Income-Tax Act, 1961, and having an established track record of at least three years in undertaking similar activities. Explanation.- For the purpose of clause (c), the term "entity" shall mean a statutory body constituted under an Act of Parliament or State leg....

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....f Financial Officer or the person responsible for financial management shall certify to the effect. (6) In case of ongoing project, the Board of a Company shall monitor the implementation of the project with reference to the approved timelines and year-wise allocation and shall be competent to make modifications, if any, for smooth implementation of the project within the overall permissible time period. ]     ************** NOTES:- 1. Inserted vide Notification No. G.S.R. 644(E) dated 12-09-2014 2. Substituted vide Notification No. G.S.R. 43 (E) dated 19-01-2015 before it was read as, "established by the company or its holding or subsidiary or associate company under se....

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....pursuance of its normal course of business" 6.  Substituted vide Notification No. G.S.R. 40(E) dated 22-01-2021 before it was read as, "4. CSR Activities.- (1) The CSR activities shall be undertaken by the company, as per its stated CSR Policy, as projects or programs or activities (either new or ongoing), ^5[****]. ^4[(2) The Board of a company may decide to undertake its CSR activities approved by the CSR Committee, through (a) a company established under section 8 of the Act or a registered trust or a registered society, established by the company, either singly or alongwith any other company, or (b) a company established under section 8 of the Act or a registered tru....

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....nting agencies through Institutions with established track records of at least three financial years but such expenditure ^1[including expenditure on administrative overheads] shall not exceed five percent of total CSR expenditure of the company in one financial year. (7) Contribution of any amount directly or indirectly to any political party under section 182 of the Act, shall not be considered as CSR activity." 7.  Substituted vide Notification No. G.S.R. 715(E) dated 20-09-2022 before it was read as, "(1) The Board shall ensure that the CSR activities are undertaken by the company itself or through - (a) a company established under section 8 of the Act, or a registered public tru....