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Dear Professional Colleagues,

Greetings of the Day !

Ministry of Corporate Affairs recently issued Companies (Accounts) Second Amendment Rules, 2023 w.r.t. CSR (Corporate Social Responsibility) .


A brief note on CSR (including background and amendments in last year is mentioned below for your ready reference:-

1.  Background

A.  Applicability

·  Companies having a net worth of rupees 500 crore or more; or

·  turnover of rupees 1,000 crore or more; or

·  net profit of rupees 5 crore or more in a financial year.


B.  Requirement

  The concerned companies are required to :

·  constitute a CSR committee (consisting of at least three directors, including at least one independent director) and

·  undertake CSR activities (broad framework for CSR activities, including eradicating hunger and poverty, promoting education, gender equality, environmental sustainability, etc.)


C.  CSR amount:

The Act requires qualifying companies to spend at least 2% of their average net profits made during the three preceding financial years on CSR activities.


D.  Reporting:

The company must report its CSR activities in its annual financial statements, board reports, and on its website. The CSR report should include details about the CSR policy, projects undertaken, amount spent, and more.


2.  Recent Developments



MCA vide the Companies (Accounts) Amendment Rules, 2022 inserted new-sub rule 1A in Rule 12 in Companies (Accounts) Rules, 2014 i.e. a new Form CSR-2 (Report on the Corporate Social Responsibility).

Rule 12(1B) states that every class of company which is obligated to constitute a Corporate Social Responsibility Committee in accordance with the provisions of sub-section (1) of Section 135 of the Companies Act, 2013, is required to furnish a report on Corporate Social Responsibility in Form CSR-2 to the Registrar for year 2020-2021 and onwards as an addendum to Form AOC-4 or AOC-4 XBRL or AOC-4 NBFC (Ind AS), as are applicable.



Changes bring through Companies (Accounts) Second Amendment Rules,2023 :


For FY 22-23, CSR-2 form to be filled separately on or before 31, March 2024 after filling form AOC-4/AOC-4 NBFC/AOC-4 XBRL.

Hope you find it interesting and useful to read.

For any clarification/ feedback, feel free to write us at

Best regards,



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