CSR 1 Filing

Introduction

In India, the concept of Corporate Social Responsibility (CSR) has gained significant importance, especially after the introduction of specific provisions in the Companies Act, 2013. The Act mandates certain companies to undertake CSR activities and provides a framework for the same. CSR-1 registration, governed by the Ministry of Corporate Affairs (MCA), is a crucial step for NGOs seeking to partner with corporations for CSR initiatives. This registration certifies NGOs to receive CSR funding in alignment with the legal requirements of the Companies Act.

In the domain of Corporate Social Responsibility (CSR) in India, understanding the complexities of CSR registration can be a daunting task for NGOs. CorpIQ simplifies this process, offering expert guidance and comprehensive services to ensure your NGO is successfully registered and ready to receive CSR funding. Our team of professionals is adept at managing all aspects of CSR-1 registration, aligning with the legal framework under the Companies Act, 2013.

CHOOSE CORPIQ FOR CSR REGISTRATION

Expert Knowledge: Our team is well-versed in the legalities of the Companies Act, 2013, and the specific requirements for CSR-1 registration.

Streamlined Process Management: We have streamlined the registration process to ensure efficiency and ease for NGOs.

Documentation and Compliance Expertise: CorpIQ assists in preparing and organizing all necessary documentation, ensuring compliance with all regulatory requirements.

End-to-End Assistance: From initial consultation to the successful acquisition of the CSR registration number, we handle every step of the process.

LEGAL FRAMEWORK OF CSR-1 UNDER THE COMPANIES ACT, 2013

The legal provisions for CSR are primarily encapsulated in Section 135 of the Companies Act, 2013. This section outlines the criteria for companies that are required to comply with CSR norms, which include companies with a certain level of turnover, net worth, or net profit. The Act mandates that these companies must spend at least 2% of their average net profits made during the three immediately preceding financial years on CSR activities.

The Companies (Corporate Social Responsibility Policy) Rules, 2014 further elaborate on the types of projects that qualify as CSR activities, the formation of CSR Committees, and the reporting requirements. In line with these rules, the CSR-1 form was introduced to streamline the process of registering NGOs and enabling them to receive funding from corporate entities.

ELIGIBILITY FOR CSR-1 REGISTRATION

To qualify for CSR-1 registration, an NGO must:

- Be a registered trust, society, or a Section 8 company.

- Have a minimum of three years of experience in undertaking social activities.

SIGNIFICANCE OF CSR-1 REGISTRATION

- Access to Corporate Funding: Ensures eligibility to receive funds from companies that are mandated to spend on CSR activities.

- Enhanced Credibility and Transparency: Builds trust among corporate entities about the NGO's compliance and governance.

- Statutory Alignment: Ensures NGOs align with the legal framework set by the Companies Act for CSR activities.

DOCUMENTS REQUIRED FOR CSR-1 REGISTRATION

- Certificate of Registration of NGO

- PAN Card of the NGO

- Details of the board members and key functionaries

- Audited Financial Statements of the past three years

- Activity Report of previous social work

PROCEDURE FOR OBTAINING CSR-1 REGISTRATION

1. Document Preparation and Verification: Gathering and verifying all required documents for accuracy and completeness.
2. Online Application on MCA Portal: Filing the Form CSR-1 electronically on the MCA portal.
3. Processing and Verification by Authorities: The form undergoes a verification process by the concerned authorities.
4. Receipt of Unique CSR Registration Number: Upon successful verification, a unique CSR registration number is allotted to the NGO

Importance of CSR-1 Registration in the Legal Context

CSR-1 registration is instrumental for NGOs in the context of the legal framework established by the Companies Act, 2013. It provides a regulated pathway for NGOs to receive CSR funds, ensuring that corporate contributions are channelled towards genuine and legally compliant social initiatives.

CorpIQ's Commitment to Empowering NGOs

At CorpIQ, we are committed to empowering NGOs to expand their impact through effective access to CSR funds. Our goal is to simplify the legal and regulatory hurdles, allowing you to focus on your philanthropic activities and societal contributions.

Start Your CSR Registration Journey with CorpIQ

Embark on your journey towards CSR registration with CorpIQ as your guiding partner. Ensure your NGO is strategically positioned to leverage CSR opportunities and make a profound social impact. Contact CorpIQ today to begin the process of CSR-1 registration.