Introduction: What is CSR-1 Registration?
CSR-1 Registration : In India, companies fulfilling specific criteria are mandated to allocate a portion of their profits for Corporate Social Responsibility (CSR) activities, as outlined in the Companies Act of 2013. This involves constituting a CSR committee, formulating a CSR policy, and dedicating at least 2% of the average net profits from the preceding three financial years to CSR initiatives. One option for companies is to collaborate with non-governmental organizations (NGOs) for effective implementation of CSR activities. Read Mor...
Document Requirements for CSR-1 Registration: Ensuring Eligibility
To initiate CSR-1 registration, NGOs must gather essential documents, including:
- Certificate of registration under the Societies Registration Act, 1860, or relevant Act.
- Memorandum of Association (MoA) and Articles of Association (AoA).
- Certificate under Sections 12A and 80G of the Income Tax Act, 1961.
- PAN Card of the NGO.
- Audited financial statements for the past three years.
- Annual report detailing activities and impact.
- Details of board members and key personnel.
- Project details outlining charitable activities, beneficiaries, and expected outcomes.
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Registration Process: Step-by-Step Guide
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Obtain Digital Signature Certificate (DSC) and Director Identification Number (DIN):
- Directors of the company must obtain a DSC and DIN for online filing.
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Fill out the CSR-1 Application Form:
- Provide details such as directors' information, registered office address, business activities, and CSR policy.
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Upload Necessary Documents:
- Submit essential documents like MoA, AoA, PAN Card, and address proof.
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Pay Registration Fees:
- Payment of CSR-1 registration fees, based on the company's authorized capital.
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Submission of CSR-1 Application:
- Submit the application online after uploading documents and paying fees.
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Verification and Approval by RoC:
- The Registrar of Companies (RoC) will verify and approve the application, issuing the CSR certificate if all requirements are met.
Benefits of CSR-1 Registration for NGOs:
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Tax Benefits:
- Enables NGOs to receive tax benefits for donations, encouraging collaboration with companies.
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Access to National CSR Data Portal:
- Provides a platform for NGOs to showcase their work and connect with companies for potential collaboration.
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Enhanced Credibility:
- Registration under Section 12A and 80G enhances the credibility of NGOs, fostering trust with collaborating companies.
Conclusion: Ensuring Effective CSR Collaboration
CSR-1 Registration is not just a regulatory requirement but a pathway to effective collaboration between companies and NGOs for social development. By meeting compliance requirements and aligning with companies' CSR policies, NGOs can contribute meaningfully to social and environmental causes. It is crucial for NGOs to maintain transparency, comply with legal and regulatory standards, and regularly evaluate the impact of their CSR activities to uphold their credibility and reputation in the long run. Contact Us