CSR Compliance Calendar
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CSR Compliance Calendar
CSR Compliance Calendar
Corporate Social Responsibility (CSR) compliance is a continuous process that requires careful planning and execution throughout the financial year. To help companies stay on track with their CSR obligations under Section 135 of the Companies Act, 2013, here is a detailed CSR Compliance Calendar.
Review and Update CSR Policy: Begin the financial year by reviewing the existing CSR policy. Make updates if required to align with new regulatory changes or company objectives.
Finalize Budget: Allocate at least 2% of the average net profits from the last three years as the CSR budget.
| Month | Key Activities | Details |
|---|---|---|
| April | – Review CSR Policy and budget for current financial year | Update CSR policy if needed, allocate CSR budget aligned with company’s 2% spend requirement. |
| April – June | – Identify and finalize CSR projects | Select projects aligned with Schedule VII and company objectives; finalize implementation plan. |
| July | – CSR Committee Meeting | Approve CSR policy, budget, and projects for the financial year. |
| July – September | – Commence CSR projects | Start CSR activities and ensure proper documentation of fund disbursement and project progress. |
| October | – Mid-year CSR review | Assess project progress and fund utilization; make necessary adjustments. |
| October – December | – Continue implementation of CSR projects | Maintain regular monitoring and documentation. |
| January | – Conduct internal audit/assessment of CSR activities | Evaluate compliance and effectiveness of CSR initiatives. |
| February | – Prepare CSR Annual Report and Board Report | Compile detailed report of CSR spend and activities for presentation to the Board and stakeholders. |
| March | – Board Meeting to approve CSR Annual Report | Final approval of CSR report and confirmation of compliance. |
| March 31 | – Deadline to spend 2% of average net profits on CSR activities | Ensure mandatory CSR expenditure is completed by financial year-end. |
| April (next FY) | – File Form CSR-2 with Registrar of Companies | Submit annual CSR compliance form detailing CSR spending and projects of the previous year. |