WebFeb 24, 2024 · Transparency should be incorporated into ongoing CSR projects, as well. For instance, if you run a grants program, clarity about who you fund and how you make those decisions is crucial. For … Web24. What is the responsibility of the Board in case any ongoing project is undertaken by the company? 12 25. What will happen if the company fails to spend the amount retained for ongoing projects? ..... 12 26. Are the any restrictions on utilization of the money in the special account or can it be used for
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WebJan 23, 2024 · This sub-section now requires companies having ongoing projects to transfer unspent CSR funds within a period of thirty days from the end of the financial year to a special account to be opened by the company in that behalf for that financial year in any scheduled bank to be called the “Unspent Corporate Social Responsibility Account”, … WebApr 17, 2024 · Corporate Social Responsibility (CSR) ... Section 135 of the 2013 Act, if a company does not spend the CSR amount, it can retain such amount after identifying an ongoing project. Ongoing projects have been defined under the New Rules as a multi-year project, but they cannot be longer than 3 years, excluding the year of … snake holes in the grass
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Web22 rows · Jan 29, 2024 · Ongoing Project(CSR Rule) “Ongoing Project” means a multi-‐year project having timelines not exceeding 03 years excluding the financial year in … WebDec 15, 2024 · According to the Act and the CSR Policy Rules, businesses will be compelled to spend money on CSR. The Ministry of Corporate Affairs (MCA) published the Companies (CSR Policy) Amendment Rules, 2024 (‘Rules’) on January 22, 2024. These rules update the Companies (Corporate Social Responsibility Policy) Rules, 2014. WebOct 8, 2024 · If the Unspent amount pertains to ‘ongoing projects’, transfer such unspent amount to a separate bank account of the company to be called as ‘Unspent CSR Account’ within 30 days from the end of the financial year and such amount shall be spent by the company in pursuance of its obligation towards the Corporate Social Responsibility ... snake hole golf course