Updated on December 26, 2022 01:26:37 PM
CSR registration in Guntur allows NGOs to obtain CSR funds from corporations for various CSR activities. CSR is an abbreviation for Corporate Social Responsibility, and it refers to the grant and funding process by which non-profit organizations (NGOs) can receive financial and other financial support from the business sector.
The goal of bringing all NGOs together on the MCA portal is to create an efficient CSR spending tracking system. The CSR-1 registration process is entirely online and can be completed only with Practicing CA, CS, or CMA certification. Once the CSR registration is completed and approved, Registered NGOs can apply for registration on CSR Exchange Portal after 30 days from the date of approval.
The Rules state that the Board of directors of a company must ensure that the company's employees participate in CSR activities either through CSR actions or by:
So, a business can engage in CSR activities independently or through a company that is registered under Section 8, registered society or public trust, or an NGO, as described above. These entities or businesses that plan to carry out a CSR action must register their businesses with the Registrar of Companies by filing the CSR-1 form electronically.
Important: In order to get funds from foreign sources, NGO need to register for FCRA certificate apart from CSR registration.
According to the Companies Act of 2013, it is mandatory for certain companies to contribute 2% of the net profit in a financial year on the CSR activities. In accordance with the Companies Act, The CSR provision applies to companies having:
The cost of filing an electronic form CSR-1 in Guntur is Rs 2,499 only; however, the amount may differ depending on the chairperson's valid DSC. If the chairperson has a valid DSC, the filing fee will be only Rs2,499.
If the chairperson doesn't possess an approved DSC, the fee would be the amount of Rs1,200 (for DSC) + Rs2,499 (Filing Fee) equals Rs 3,699 only.
|CSR Registration Fees in Guntur|
|CSR Filing Fees with Valid DSC||₹2499|
|CSR Filing fees without Valid DSC||₹1200(DSC) + ₹2499(Filing) = ₹3699|
The documents that must be uploaded to CSR-1 Registration in Guntur are as follows:
CSR Registration is beneficial for both the registered NGOs and Corporate companies in Guntur.
When NGOs register for CSR, they get the opportunity to attract tons of corporate companies who are willing to provide significant financial support to lead CSR activities. The process of obtaining corporate funding and donations from companies is easier due to the lack of legal obstacles.
The funds provided by CSR are used to address social development and have an impact on the standard of living of economically disadvantaged and marginalized members of society, so they can lead healthy and dignified lives. CSR is a corporate effort to evaluate and accept responsibility for the impact of the business on the environment as well as its impact on social well-being.
When corporate companies contribute to a greater cause, it builds the brand’s reputation among the people. It is also a significant statement for businesses to represent what they stand for. It assists its employees, people, and the organization itself in contributing to something larger than its own needs. CSR also provides a sense of belonging to employees. It strengthens employee bonds as well as devotion to the organization.
CSR is linked to the company's efforts to protect the environment and encourages positive environmental and social changes. CSR activities include the promotion of health, education and water, as well as environmental, social empowerment, and employment generation training for young people and women and differently-abled people through livelihood improvement projects.
Process of CSR-1 registration:
Filing on MCA Portal
Inspection of the Form
Approval Letter from MCA
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According to the companies act, 2013, CSR funds can be utilized for activities specified by the csr committee. Some of them includes-
For a detailed information on other activities, please refer to the complete list of CSR activities in India.
You need to file a CSR-1 form to get CSR funds from companies. Apart from that, you also need to prepare a project report that includes detailed information about the CSR activity and its impact on society. A good project report attracts good funds.
A CSR form can be filed in about two days. However, if you do not have the project report ready, it may take up to 10-15 days to write an appealing project report that boosts your chances of receiving more and more CSR funds.
To receive contributions from companies, an NGO must be registered on the MCA's CSR platform. Only NGOs who have registered with the Central Government by submitting form CSR-1 will be eligible for CSR funding.
No, a freshly registered NGO cannot file CSR because a CSR-eligible entity must be at least three years old.
All the existing NGOs which are registered under Section 12A and Section 80G of Income Tax Act 1961 has to file re-registration request under both section on or before 30.06.2021. Till 30.06.2021 all the existing registrations are valid and on the basis of which you can file Form CSR-1 on MCA Portal for getting CSR Funding.