CSR
Here is the exact extract of all 58 questions from the document:
1. On which companies, Corporate Social Responsibility Policy (CSR) provisions specified under
section 135 of the Companies Act, 2013 are applicable?
2. When does the Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021
come into effect?
3. Which companies are not required to constitute CSR Committee?
4. How the ‘Net Profit’ is required to be calculated as per these CSR Rules (the Rules)?
5. Whether the ‘average net profit’ criteria mentioned under section 135(5) is Net profit before
tax or Net profit after tax?
6. What are the functions of CSR Committee?
7. Whether a holding or subsidiary of a company fulfilling the criteria under section 135(1) has
to comply with the provisions of section 135, even if the holding and subsidiary itself does not
fulfill the criteria?
8. Whether the provisions of CSR are applicable on a Section 8 Company, if it fulfills the criteria
of section 135(1) of the Act?
9. If a company has not completed the period of three financial years since incorporation, is it
required to comply with the CSR provisions?
10. What are the broad methods by which CSR projects can be implemented by a company?
11. Whether reporting of CSR is mandatory in Board’s Report?
12. What are the disclosure requirements at the website of the company?
13. What do we mean by ‘CSR activities’?
14. How should the list provided in Schedule VII of the Companies Act be construed for the
purpose of undertaking CSR Activities?
15. How has the CSR spending pertaining to COVID-19 been inculcated in the Act?
16. The impact assessment is required to be conducted for ‘projects completed not less than
one year before undertaking the impact study’. Considering this provision, is the impact
assessment for CSR projects implemented during FY 2018-19 or prior to that up to FY 2013-14
is required?
17. What do you mean by CSR Policy?
18. Who is the competent authority to approve the CSR policy?
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19. If a CSR project was planned for a certain amount to be executed during specified period by
the Board and the CSR project is completed before the prescribed time with funds remaining
unutilised. In such case, is the Board free to use the unutilised amount in other project or it has
to transfer the same to fund specified in Schedule VII after 3 years or completion of the
project?
20. The Company plans to cover medical health camp for its unskilled labour under its CSR
activity. Whether it is permissible under the Act and Rules?
21. If a Company plans to empanel an agency to execute its proposed CSR Project and finds an
implementing agency which was enrolled on a website. The website host charges an amount of
Rs. 1,00,000 as fee for providing the information regarding the implementing agency. Can the
same be considered as administration expense towards CSR and be claimed under the 5%
limit?
22. What is the meaning of the term ‘Administrative Overheads’? What is the maximum
permissible limit for Administrative Overheads?
23. If a company has unspent CSR amount for the financial years 2014-15, 2015-16, 2016-17,
2017-18, 2018-19 and 2019-20, is the company required to transfer the entire unspent amount
for the said years in the financial year ended 31st March, 2021?
24. What is the treatment of unspent amount which was required to be spent in pursuance of
the CSR policy?
25. A company is having ongoing projects carried out by an implementing agency which is not
registered under section 12A and 80G of the Income Tax Act, 1961. Will the company become
non-compliant under law if it continues with the same implementing agency?
26. Does the term ‘ongoing project’ mean projects involving capital assets like Building,
Hospital and any other Infrastructure related CSR Project which generally takes more than a
year to complete?
27. Can the CSR amount be utilised by a company for creation or acquisition of a capital asset?
28. Can a company open one unspent CSR account for all its projects?
29. If a company plans to spend 2.5% of its average net profits but out of this 0.5% remains
unspent, will the penal provisions and requirement for transfer of unspent amount apply to the
Company over and above the mandatory 2% spend?
30. Is it mandatory to mention the Annual Action Plan in the CSR Policy?
31. Whether an annual action plan can be altered?
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CS PROFESSIONAL
32. Whether a company is required to direct the implementing agency to refund to the
Company the unutilised amounts at the year end and then contribute it to the unspent CSR
Account?
33. According to section 135 of the Act the company is given six months’ timeline to transfer
amount to unspent CSR Fund, whether the company can spend this amount in the said period
of six months such that the company will be free from the liability to transfer amount to said
fund?
34. If a company has unspent amount Rs. 10 Lacs as on 31.03.2021, whether such amount will
be transfer to said fund before 30.09.2021 or company may spend any amount (out of unspent
amount) during the said six months after close of financial year and can transfer remaining
unspent amount in Fund?
35. What is the responsibility of the Board in case of ongoing projects?
36. CSR contribution made through Implementation Agencies does not qualify to be an
“Ongoing Project”. Is this correct?
37. What are the requirements of transferring unspent amount in case of an ongoing project?
38. What are the penal provisions for not complying with the provisions of transferring unspent
amount of a CSR project?
39. Are the abovementioned penal provisions specific to not transferring the unspent amount
or is applicable for any other non-compliance relating to CSR provisions?
40. Any entity established by the Government or by an Act of Parliament or State Legislature is
not required to get registration under section 12A and 80G of the Income Tax Act, 1961?
41. Whether all implementing agencies are required to be registered with the Central
Government by filing the form CSR-1?
42. What is form CSR-1? For which companies is it mandatory to file form CSR-1?
43. In case, the registration of trust is not mandatory, then what would be constituted as
‘Registered trust’ or ‘Registered public trust’?
44. Whether international organisations may be engaged in CSR implementation?
45. Is CFO certification on utilisation of CSR funds applicable for the funds spent in FY 2020-21?
46. How does surplus from CSR project is generated?
47. If a company spends an amount in excess of the requirements provided under section 135,
whether such an excess amount can be set off in next year?
48. Can the Board, for sufficient cause and reasons, change the ongoing project completely
within 3 years’ of time?
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CS PROFESSIONAL
49. Is the cost of impact assessment covered under the administration expenses or considered
separate from that?
50. The format of the Annual Report on CSR Activities to be Included in the Board’s Report For
Financial Year Commencing on or After 1st Day of April, 2020, Annexure II of the CSR Policy
Rules, mentions Project ID in point 9(b) in column 2 of the table. How will this project ID be
created?
51. Whether CSR expenditure of a company can be claimed as a business expenditure?
52. What tax benefits can be availed under CSR?
53. How can companies with small CSR funds take up CSR activities in a project/programme
mode?
54. Whether companies can pool CSR funds into a Fund set up by an entity other than
Government (which may be a company, society, etc.) with the objective of spending in areas as
envisaged in Schedule VII of the Companies Act, 2013 (the ‘Act’) or for the purpose of
conducting CSR activities, etc.?
55. Whether contribution in kind can be monetized to be shown as CSR expenditure?
56. What are the activities which do not qualify as CSR Activities?
57. Rule 3(2) of the Companies (CSR Policy) Rules, 2014, requires that even those companies
which cease to be a company covered under subsection (1) of section 135 of the Act shall
continue with its CSR Committee and comply with the provisions of Sec 135 related to activities
of the CSR Committee and spending of 2% average profits, at least for three consecutive
financial years.
58. What are the various other aspects that may be kept in mind while undertaking CSR?
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CS PROFESSIONAL
FCRA
Here is the list of all 68 questions extracted from the document:
1. What is foreign contribution?
2. Whether earnings from foreign client(s) by a person in lieu of goods sold or services
rendered by it is treated as foreign contribution?
3. What limit has been prescribed in FCRA, 2010 in respect of such articles?
4. What is a foreign source?
5. Who can receive foreign contribution?
6. Who cannot receive foreign contribution?
7. Are there any banned organisations from whom foreign contribution should not be
accepted?
8. Whether donation given by Non-Resident Indians (NRIs) is treated as ‘foreign contribution’?
9. Whether donation given by an individual of Indian origin and having foreign nationality is
treated as ‘foreign contribution’?
10. Whether foreign remittances received from a relative are to be treated as foreign
contribution as per FCRA, 2010?
11. Whether individuals not covered under Section 3 or a HUF can accept foreign contribution
freely for the purposes listed in section 4 of FCRA, 2010?
12. Can the fee paid by the foreign delegates/participants attending/participating in a
conference/seminar etc. be termed as foreign contribution?
13. Whether a Company incorporated in India under the Companies Act, 1956 having its
operations in 2 or more countries is to be treated as a MNC/foreign source under FCRA, 2010?
14. Can foreign contribution be received in rupees?
15. Will interest or any other income earned from foreign contribution be considered foreign
contribution?
16. Whether interest or any other income earned out of foreign contributions be shown as
fresh foreign contribution receipt during that year or not?
17. Can NGOs use the foreign contributions for investment in Mutual Funds and other
speculative investments?
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CS PROFESSIONAL
18. Can capital assets purchased with the help of foreign contributions be acquired in the name
of the office bearers of the association?
19. Can an association invest the foreign contribution received by it in profitable ventures and
proceeds can be utilized for welfare activities?
20. Can foreign contribution be received in and utilised from multiple Bank Accounts?
21. Whether inter-account funds transfer shall be allowed within the multiple accounts that an
Association is now permitted to open for the purpose of utilizing the foreign contributions and
the level of diligence required on the part of the Banks in this regard?
22. Can foreign contribution be mixed with local receipts?
23. Whether expenses like 'interest paid to bank', 'bank charges', 'hospitality' etc. can be
included in 'administrative expenses'?
24. Is there any restriction on transfer of funds to other organisations?
25. How would an organisation that is registered or has obtained prior permission under FCRA
and intends to transfer a part of the foreign contribution received by it to another organisation
would know whether the recipient organisation has been proceeded against under FCRA?
26. What are the eligibility criteria for grant of registration?
27. What are the eligibility criteria for grant of prior permission?
28. Whether the amount of foreign contribution for which prior permission has been granted
can be received by an association in installments?
29. Whether an association should open an exclusive FC A/c before submission of an
application for registration or prior permission?
30. Whether Banks should allow an association which is applying for registration or prior
permission under FCRA, 2010 to open an exclusive FC A/c with INR?
31. Whether Banks should credit any foreign contribution received by an association to its
account even if the association does not have registration/prior permission from MHA and
subsequent reporting can be made by Banks to MHA?
32. Should the Banks report transactions pertaining to foreign contributions which are returned
back to the remitter by the beneficiary Association for want of registration/prior permission
from MHA?
33. Whether reporting by Banks is also applicable for transfer of funds between FCRA accounts
of two or more associations?
34. Whether the reference period prescribed in Rule 16(3) of FCRR, 2011 for reporting by Banks
in respect of transactions during 30-days period should mean calendar month?
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SHREYAM TIWARI
CS PROFESSIONAL
35. What are the conditions to be met for the grant of registration and prior permission?
36. Can a private limited company or a partnership firm get registration or prior permission
under FCRA, 2010?
37. Whether an individual or a Hindu Undivided Family (HUF) can be given registration or prior
permission to accept foreign contribution in terms of section 11 of FCRA, 2010?
38. Whether infusion of foreign share capital in a company registered under section 25 of the
Companies Act, 1956 attracts the provisions of FCRA, 2010?
39. Is recommendation of District Collector or Deputy Commissioner or District Magistrate
mandatory for submission of an application for registration or prior permission?
40. If an application for registration or prior permission is submitted online by an association,
does it need to submit that application in physical form also?
41. What are the documents to be enclosed with the application?
42. How to find the status of pending application for registration/prior permission?
43. Whether foreigners can be appointed as Executive Committee members of an association
seeking registration or prior permission?
44. Whether Government servants, Judges and employees of a Government owned/controlled
company/body can be on the executive committees/boards of an association?
45. Whether organisations under Central/State Governments are required to obtain registration
or prior permission under FCRA, 2010 for accepting foreign contribution?
46. What is the procedure for seeking change in the name/address of an association registered
under FCRA?
47. What is the procedure for change of designated FC Bank Account?
48. Whether intimation regarding the change of Members of the Executive
Committee/Governing Council of the association is to be given to the Government?
49. What is the procedure for filing Annual Returns?
50. For how many years an association which has been granted prior permission to receive
foreign contribution should file the mandatory annual return?
51. What are the offences and penalties under FCRA, 2010?
52. Which are the offences that can be compounded and what would be the penalties
therefor?
53. How to apply for compounding of an offence under FCRA, 2010?
54. What happens after an offence is compounded?
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CS PROFESSIONAL
55. What if the person is unwilling or unable to pay the penalty imposed?
56. Which are the investigating agencies for investigating and prosecuting a person for violation
of FCRA?
57. Can the Government cancel the certificate of registration granted to a person under FCRA?
58. Can the Government suspend the certificate of registration granted to a person under
FCRA?
59. Can an organization, whose violation under FCRA, 1976 has been condoned, apply for
registration/prior permission?
60. What is the status of the applications submitted under the repealed FCRA, 1976 but have
not been disposed of?
61. Whether the registration certificate or prior permission granted under the repealed FCRA,
1976 shall remain valid when FCRA, 2010 has come into force?
62. Whether prior permission granted under FCRA, 1976 would also remain valid for next 5
years from the 1st May, 2011, i.e., the date when FCRA, 2010 came into force?
63. Whether the certificate of registration is to be renewed and what is the procedure for such
renewal?
64. When should an Association which has been granted registration under FCRA, 1976 should
apply for renewal of registration?
65. What is foreign hospitality?
66. Who cannot accept foreign hospitality without prior approval of the Ministry of Home
Affairs?
67. Whether approval of the Ministry of Home Affairs is required in cases where the proposed
foreign visit is being undertaken by a person in his/her personal capacity and the entire
expenditure thereon is being met by the person concerned?
68. How one can seek permission of the Government for receiving foreign hospitality?
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CS PROFESSIONAL
SSE
Here is the list of all 59 questions extracted from the document:
1. What is Social Stock Exchange (SSE)?
2. What is a Social Enterprise in the context of Social Stock Exchange? Or
Which entity can identify itself as a social enterprise?
3. What are the minimum reporting standards mandated for Social Enterprises?
4. Which Social Enterprises are not eligible to get registered or raise funds through Social Stock
Exchange/Stock Exchange?
5. What is a Not-for-profit organization in the context of Social Stock Exchange? Or
Which entity can be identified as a not-for-profit organization in the context of Social Stock
Exchange?
6. What is a for profit social enterprise in the context of Social Stock Exchange? Or
Which entity can be identified as a for profit social enterprise in the context of Social Stock
Exchange?
7. What are the ways in which a Not-for-profit organization can raise funds through Social Stock
Exchange?
8. Is it mandatory for a Not-for-profit organization to register in order to raise funds through
Social
Stock Exchange?
9. What are the criteria for registration on Social Stock Exchange in respect of Not-for-profit
organizations?
10. Is it mandatory for the Not-for-Profit Organizations registered with Social Stock Exchange to
seek listing?
11. What structured finance product is available for Not-for-Profit Organizations through social
stock exchange mechanism?
12. Is it mandatory to register for profit social enterprises in order to raise funds through Social
Stock Exc?
13. How can a for profit social enterprise raise funds through Social Stock Exchange?
14. Whether retail investors can invest in securities issued by Social Enterprises in the Social
Stock Exchange Platform?
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CS PROFESSIONAL
15. Can a For-Profit Organization issue Equity Shares to an Alternative Investment Fund?
16. Will I qualify for registration if 67% of my activities last year were in one or more items from
the list of eligible activities, by my immediately preceding 3-year average is below 67%?
17. Will an NPO promoted by the promoters of a body corporate be eligible to apply?
18. Whether an NPO needs to be in operations for 3 years before registering on the Social Stock
Exchange?
19. What proof is needed to demonstrate that the NPO has been in operation for 3 years?
20. Can an NPO that is not registered on the NGO Darpan portal register on the Social Stock
Exchange?
21. Who will certify the documents that are needed to be submitted for registration of an NPO?
22. If an NPO registers on the SSE, will they have to follow all the compliances even if they do
not list any instruments on it?
23. Is this meant for Indian entities only or international NPOs can also get registered?
24. If any Corporate is promoting one NPO through formation of a Formal Organization and
then wants to register the NPO on the SSE, is it permitted?
25. Will it be possible for an NPO to renew the registration after a year if they have not raised
any money in the previous year through SSE?
26. Suppose, we get registered as a SE, and while moving forward if at any point we fail to
follow any guidelines. What would be the potential repercussions?
27. Are For-profit organizations eligible to issue Zero Coupon Zero Principal Instruments for
raising funds?
28. Which Not for Profit Organizations are eligible to issue Zero Coupon Zero Principal
Instruments?
29. Can Not-for-Profit Organizations make private issuance of Zero Coupon Zero Principal
Instruments?
30. What is the procedure for public issuance of Zero Coupon Zero Principal Instruments by a
Not-for-Profit Organization?
31. Can Zero Coupon Zero Principal Instruments be issued in physical form?
32. Is there any limit for issue size of Zero Coupon Zero Principal Instruments?
33. What is the minimum subscription required to be achieved for successful issue of Zero
Coupon Zero Principal Instruments?
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CS PROFESSIONAL
34. Can a Social Enterprise terminate the listing of Zero Coupon Zero Principal Instruments from
Social Stock Exchange?
35. Are instruments listed by Social Enterprises available for trading in secondary market?
36. What is Social Audit?
37. What is a Social Audit Firm?
38. Who can act as Social Auditor?
39. Is there any Lock-in or minimum period between registration of any NPO and raising of
funds from the market?
40. Is a merchant banker required to be appointed for preparing the draft fund – raising
document?
41. Is there a validity period for the observations issued by SSE on the draft fund-raising
document?
42. Please clarify whether the Funds raised by the NPO are in the form of a grant or a loan?
43. Whether private placement of Zero Coupon Zero Principal Instruments be made to any
person other than Social Impact Funds registered under SEBI AIFs Regulations?
44. Whether the Private Placement of Zero Coupon Zero Principal Instruments issued to Social
Impact Funds compulsorily required to be listed on Social Stock Exchange?
45. Do all the funds for a ZCZP instrument project have to be raised via the SSE or some can be
outside the SSE also?
46. Whether NGO/ NPO is required to obtain FCRA registration before raising funds from
Foreign Institutional Investor or Individual Non-Resident Donors?
47. How will the foreign funding and local funding be managed in a single instrument, or will
there be separate instruments for NRI’s/Foreign investors?
48. Once a proposal is put up for a project by an NPO, how will the fundraising happen?
49. Will the investors be treated as donors? How will the funds received be accounted for?
50. What happens if the ZCZP issue is not fully subscribed?
51. Whether Zero Coupon Zero Principal Instrument holdings are transferable?
52. Whether Zero Coupon Zero Principal Instruments will be subject to securities transaction
tax?
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CS PROFESSIONAL
53. Whether a Listed NPO can raise additional funds for the same project through another ZCZP
instrument?
54. Can a listed NPO raise funds for more than one project by issuing multiple ZCZP
instruments, one for each project?
55. Since, Development Impact Bonds Are Pay-for-Success Funding Structures, will NPOs be
allowed to issue them?
56. Whether a Registered NPO raised fund outside Social Stock Exchange is required to disclose
the details of such funds as a part of Annual Disclosure under LODR?
57. Is termination of Zero Coupon Zero Principal Instruments equivalent to delisting?
58. What is the process for corporates to register for extending funding support?
59. Will foreign investors like FII's, FPI's or NRI investors be allowed to invest in NPOs fund
raising?
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CS PROFESSIONAL
