Go AD-Free with CAclubindia Pro and get a FREE CCI Coffee Mug. Subscribe Now!

Csr expenditure

Karishma (Article Assistant) (31 Points)

12 April 2016

Can CSR amount be spend through a trust newly formed or it is compulsory that the trust should be an old trust? If yes then how much old ?

Reply
Follow
Share

4 Replies

CA Suri Kota (Assistant Manager @ EY) (955 Points)
Replied 12 April 2016

I dont see problem with either of the choice ..be it old or new !!!!!

Upgrade to CAclubindia Pro. Subscribe Now!

Mandar (Associate) (561 Points)
Replied 12 April 2016

Kindly refer Rule 4(2) of Companies (CSR) Rules 2014 , if the trust is not established by Company , or its holding , subsidiary or associate company than it shall have a track record of 3 years in undertaking such similar programmes or projects.

CA Suri Kota (Assistant Manager @ EY) (955 Points)
Replied 12 April 2016

Yes I agree wth Mandar......Its 3 Years only for old firms which are not associated or created by the So called Entity !!!!

CS Ankur Srivastava (Company Secretary & Compliance Officer) (17853 Points)
Replied 13 April 2016

Originally posted by : Mandar
	Kindly refer Rule 4(2) of Companies (CSR) Rules 2014 , if the trust is not established by Company , or its holding , subsidiary or associate company than it shall have a track record of 3 years in undertaking such similar programmes or projects.