What Is CSR

CSR stands for Corporate Social Responsibility, and it is a concept that is increasingly being adopted by businesses around the world. CSR is all about businesses taking responsibility for their impact on society and the environment, and taking action to improve things.

In India, the CSR rules were introduced in 2013, and they require companies with a net worth of ₹500 crore or more, or turnover of ₹1,000 crore or more, to spend 2% of their average net profits from the previous three financial years on CSR activities. The rules are designed to encourage businesses to do more to improve society and the environment.

There are a number of ways in which businesses can get involved in CSR activities. Some common examples include:

• Providing financial support to NGOs that are working on social or environmental projects
• Carrying out environmental protection initiatives
• Implementing employee volunteering programs
• Organising community development programs

If you are an NGO that works on social or environmental projects, then you may be able to receive funding from companies that are required to spend money on CSR activities. This can be a great way to get additional funding for your work.

What Is the Process of Registration for CSR-1 in India

The process of registration for CSR-1 in India is as follows:

• The NGO must first be registered with the Registrar of Companies (ROC).
• Once the NGO is registered with the ROC, it can then apply for CSR-1 registration with the Ministry of Corporate Affairs (MCA).
• The MCA will issue a registration certificate to the NGO, which will be valid for three years.
• After the expiry of the three-year period, the NGO can renew its registration by submitting a fresh application to the MCA.

Benefits of Registering for CSR-1

There are several benefits to registering for CSR-1, the online portal for corporate social responsibility in India. First and foremost, it provides a one-stop shop for all the information and resources NGOs need to comply with the CSR requirements under the Companies Act. This includes a comprehensive database of registered NGOs, as well as details on upcoming CSR tenders and projects.

In addition, CSR-1 offers a number of value-added services to its members, such as training and capacity building programmes, access to exclusive research reports, and networking opportunities with other NGOs working in similar fields. Members also get discounts on CSR-related products and services offered by partner organisations.

How to Register for CSR-1

In order to register for CSR-1, NGOs must first create an account on the official website. Once they have done so, they can then login and click on the ‘Register’ button. After filling out the required information and submitting it, their registration will be complete.

Laws Associated With CSR Registration

1. The Companies Act, 2013: All companies registered in India must comply with the Companies Act, 2013. This act contains provisions regarding corporate social responsibility (CSR)

2. The Income Tax Act, 1961: Under this act, tax-exempt organisations are required to disclose their income and expenditure details.

3. The Foreign Contribution (Regulation) Act, 2010: This act regulates the acceptance and utilisation of foreign contribution by NGOs in India.

4. The Indian Trusts Act, 1882: This act governs the registration and regulation of trusts in India. Trusts registered under this act are eligible to receive foreign contributions.

Importance of CSR-1

CSR has become a buzzword in recent years, with businesses and organisations of all sizes trying to implement it in some way or the other. However, its implementation is not always as simple as it seems. In India, for example, NGOs need to register themselves under the Companies Act in order to be eligible for CSR projects.

This process can be quite complicated, but it is essential in order to ensure that the NGO is legitimate and that the project will be properly carried out. Additionally, registration gives the NGO certain legal protections and allows them to receive tax exemption status.

Overall, registering an NGO in order to receive CSR projects is a critical step in ensuring that the organisation can operate effectively and efficiently. It also allows the NGO to tap into a new source of funding which can be used to further their cause.

Eligibility Criteria for NGOs

In order to be eligible for CSR registration in India, your NGO must:

• Be a registered Indian charity or non-profit organisation
• Have an Indian bank account
• Have a valid PAN card
• Submit annual financial statements
• Comply with all other applicable laws and regulations

Filing of Form for CSR Funding

eForm CSR-1 is an online form that must be filed by certain companies and organizations that are required to spend a certain percentage of their profits on corporate social responsibility (CSR) activities.

Documents Required for CSR-1 Registration

1. Certificate of Registration: This document must be issued by the Registrar of Companies, Society, or Trust registration, as applicable. It should include the date of registration, registration number, and registered office address of the NGO.

2. Memorandum and Articles of Association/Trust Deed/Society Bye-Laws: These documents contain the rules and regulations governing the NGO’s activities. They must be submitted in their original form, duly signed and stamped by the relevant authorities.

3. PAN Card: The Permanent Account Number (PAN) is an unique alphanumeric code allotted by the Income Tax Department to entities engaged in financial transactions. NGOs must submit a copy of their PAN card along with their CSR-1 application form.

5. Annual Report: The NGO’s annual report for the previous year should be submitted along with the CSR-1 application form. The report should include details on the NGO’s activities during the year, financial position, achievements, etc.

Filing of eForm CSR-1

eForm CSR-1 is an online form that must be filed by certain companies and organizations that are required to spend a certain percentage of their profits on corporate social responsibility (CSR) activities.

Applicability of Form CSR-1

Form CSR-1 is applicable to the following companies and organizations:

• Companies with a net worth of INR 500 crores or more
• Companies with a turnover of INR 1000 crores or more
• Companies with a net profit of INR 5 crores or more
• Public sector undertakings (PSUs)
• Government-owned companies
• Non-governmental organizations (NGOs) that receive donations of INR 10 crores or more in a financial year

Form CSR-1 Filing Process

The Form CSR-1 filing process is as follows:

• Go to the website of the Ministry of Corporate Affairs (MCA) and download the Form CSR-1.
• Fill out the form and submit it online.
• Pay the filing fee.
• The MCA will review the form and issue a certificate of registration.

Types of NGOs eligible for CSR-1 registration

The following types of NGOs are eligible for CSR-1 registration:

• NGOs that are registered with the government
• NGOs that have been in operation for at least three years
• NGOs that have a clear mission and vision
• NGOs that have a well-defined set of objectives
• NGOs that have a sound financial system
• NGOs that have skilled and dedicated staff

Form CSR-1 Filing Fees

The filing fee for Form CSR-1 is INR 5000 for companies and organizations that are registered in India. The filing fee is INR 10000 for companies and organisations that are not registered in India. ** Fees are subject to vary

Why AccountsWaale?

We have a simple and straightforward online process that makes it easy for NGOs to get registered. We believe that every NGO deserves access to quality legal services, which is why we offer affordable pricing options. We also offer a 100% satisfaction guarantee, so you can be sure that you’re making the best decision for your organisation.