Guidance Note on Accounting for Expenditure on Corporate Social Responsibility Activities

The Coun­cil of the Insti­tute of Char­tered Accoun­tants of India (ICAI) has issued this Guid­ance Note on Account­ing for Expen­di­ture on Cor­po­rate Social Respon­si­bil­i­ty Activ­i­ties which comes into effect from the date of its issuance. Pend­ing final­i­sa­tion of the Guid­ance Note, as it was under dis­cus­sion with the rel­e­vant author­i­ties, the Cor­po­rate Laws & Cor­po­rate Gov­er­nance Com­mit­tee had issued ‘Fre­quent­ly Asked Ques­tions on the pro­vi­sions of Cor­po­rate Social Respon­si­bil­i­ty under Sec­tion 135 of the Com­pa­nies Act 2013 and Rules there­on’ which, inter alia, pro­vid­ed an inter­im guid­ance with regard to cer­tain account­ing issues. On issuance of this Guid­ance Note on Account­ing for Expen­di­ture on Cor­po­rate Social Respon­si­bil­i­ty Activ­i­ties, the FAQs relat­ed to areas cov­ered by the Guid­ance Note stand withdrawn.

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