Home CATEGORIES Business Ethics & Philanthropy Decoding CSR Amendments 2021 – Samhita Social Ventures and Noshir Dadrawala cohost...
Initiating discussions to decode the CSR Amendments 2021, Samhita Social Ventures and Noshir Dadrawala, Programme Director at the Centre for Advancement of Philanthropy cohosted a webinar and engaged with over 150 representatives of companies, philanthropic trusts and foundations on 3 February 2021.
Hoping to guide the representatives of companies, philanthropic trusts and foundations, the webinar was held for discussions on subjects involving the requirements and compulsions related to the CSR-1 form; Impact assessment and related compliance; Fiscal cap on administrative overheads and other expenses; Process of transferring capital assets to the mandated bodies and the nature of consulting costs and their categorization as an expense.
The discussion started with a detailed overview of all the changes that were brought about by the amendment and the implications for both the corporate and the social sectors. This was followed by an interactive session on clarifications, unanswered questions and pain points within the context of each organisation’s requirements.
The questions that remained unanswered due to time limitations or ambiguity in the CSR amendments 2021 were highlighted and systematically answered, they emphasized and underlined some details on how CSR-1 form is mandatory for a company’s foundation but not for the company which is a for-profit entity; administration costs are permissible to be 5% and an additional 5% is allowed for design, monitoring and evaluation which culminates to a total of 10%.
Any feasibility study conducted can be included within these expenses; all consulting costs must ideally come under monitoring or evaluation expenses; they may also be included as administrative expenses.
Disclaimer: This media release is auto-generated. The CSR Journal is not responsible for the content