The Ministry of Corporate Affairs has made available CSR-1 form on its website and made it mandatory for all the social organisations seeking CSR funds or CSR implementing agencies to file it.
What is CSR-1 Form?
The CSR-1 form is aimed at efficient monitoring of CSR spendings in the country. It is to be filed by implementing entities intending to undertake CSR activities electronically for all CSR projects effective from 1st April 2021.
At submitting the form, a unique CSR Registration Number shall be generated for all companies. In this way, a list of all such participating entities is maintained by the MCA which increases the chances of timely fulfilment of proposed activities. This past performance record of implementing agencies can be referred to by the companies and help them decide their engagement for future CSR activities.
As per Notification issued by Ministry of Corporate Affairs, from April 1, 2021 CSR Funding will be released only to that NGOs, that are registered with MCA by filing Form CSR-1.
Types of Organisations eligible to file the CSR-1 form
1. A company established under section 8 of the Act, or a registered public trust or a registered society, registered under section 12A and 80 G of the Income Tax Act, 1961 (43 of 1961), established by the company, either singly or along with any other company, or
2. A company established under section 8 of the Act or a registered trust or a registered society, established by the Central Government or State Government; or
3. Any entity established under an Act of Parliament or a State legislature; or
4. A company established under section 8 of the Act, or a registered public trust or a registered society, registered under section 12A and 80G of the Income Tax Act, 1961, and having an established track record of at least three years in undertaking similar activities
Form CSR-1 is to be signed digitally by the authorised person of the NGO and a practising professional.
The Professional may be a Chartered Accountant/Company Secretary/Cost Accountant who is in whole-time practising, so NGOs cannot directly file Form CSR-1, they have to approach the professional for filing Form CSR-1.
Documents required for filing the CSR-1 Form
1. Copy of PAN Card of the NGO
2. Mail ID and Mobile Number
3. Details of Governing Body Members
4. Copy of Registration Certificate
5. Digital Signature of the Authorised Person with his PAN Number