Your Trust can participate in CSR fund by CSR-1, 80G & 12A
CSR – Corporate Social Responsibility Amendment 2021 for Trusts, Companies
Every trust, Company registered under Section 8, public Trusts, under section 12A and 80G of Income-tax Act, which intends to spend on the social cause as per CSR, then must be registered with MCA.
This is the amendment announced by MCA, read the Circular here Mca in sub-rule 1 of CSR, 2021.
What is CSR?
As per the Companies Act, 2013, CSR means, companies responsibility towards community, society, environment.
The good profit-making Companies (as per section 135), fulfil the CSR responsibility through contributions to the social good, by way waster, pollution reduction, by contributing education, social programs by undertaking activities of similar nature.
Below mentioned companies must spend 2% Profit as CSR
- Business Turnover is Rs. 1000 Crore or more, or
- Company Net worth of Rs. 500 Crore or more, or
- Company Net Profit of Rs. 5 crores or more
The company Directors formulate the CSR Policy and decide to undertake the CSR activities.
Section 8, public trust with 80G, 12A entities can submit their proposal to participate in the CSR activities sample proposal form.
Amendments in CSR – Rules 2021
- The Administrative expenses towards CSR spends have been limited to 5% only
- All those Trusts, Societies, Companies must have 80G and 12A from Income-Tax
- The Trusts must have a track record of at least 3 years in undertaking similar activities.
- File the CSR-1 with MCA by verified it from the Practicing company secretary.
We have entrusted with many Trusts, section 8 Companies for registration with 80G, 12 and CSR-1 filing with MCA.
If you have Trust with track records of undertaking social good, then reach us to get you the CSR enrollment reach support@teamIndia.co.in
Any further information kindly reaches below address :
188/1, 1st Flr, BT Pura, Sahakarnagar, Bangalore-560 092
8792858436, 7019827351, 7892256853 firstname.lastname@example.org