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37 Incubators
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What is CSR?

CSR aims to contribute to societal goals of a philanthropic, activist or charitable nature by engaging in or supporting volunteering practices in a diverse array of sectors such as education, health, women empowerment, etc. Acknowledging that most CSR activities are conducted at the grass root level, that are often unorganised and difficult to manoeuvre, we have created this portal to assist in the identification of CSR projects for companies looking to diversify their CSR investment portfolios.

CSR For COVID-19

As per the notification dated 23rd March 2021, the Ministry of Corporate Affairs made CSR funding for COVID-19 an eligible CSR activity. Further on, as per the circulars released on 22nd April 2021 and later on 5th May 2021, MCA elaborated on the areas for CSR funding for COVID-19. The CSR reserves may be utilized for creating health infrastructure for COVID care, Manufacturing and supply of Oxygen concentrators, ventilators, cylinders and other medical equipment for countering COVID-19, and establishment of medical oxygen generation and storage plants, among others.

CSR in India

India is the first country in the world to make corporate social responsibility (CSR) mandatory, following an amendment to the Companies Act, 2013 in April 2014. Businesses can invest their profits in areas such as education, poverty, gender equality and healthcare as part of their CSR compliance.

The amendment notified in the Companies Act, 2013 requires companies with a net worth of INR 500 crore (US $70 million) or more, or an annual turnover of INR 1000 crore (US $140 million) or more, or net profit of INR 5 crore (US $699,125) or more, to spend 2 percent of their average net profits of three years on CSR.

CSR Amendments

The Government has decided to expand the scope of Corporate Social Responsibility (CSR). Now the fund can be spent on technology incubators funded by Central or State Government or any agency or Public Sector Undertaking of Central or State Government, and, making contributions to public-funded Universities, IITs, National Laboratories and Autonomous Bodies (established under the auspices of ICAR, ICMR, CSIR, DAE, DRDO, DST, MeitY) engaged in conducting research in science, technology, engineering and medicine aimed at promoting Sustainable Development Goals (SDGs).

CSR trends in India

Since the applicability of mandatory CSR provision in 2014, CSR spending by corporate India has increased significantly. In 2018, companies spent 47 percent higher as compared to the amount in 2014-15, contributing INR 7,536 crores (US $1 billion) to CSR initiatives, according to a survey.

Listed companies in India spent INR 10,000 crore (US$1.4 billion) in various programs ranging from educational programs, skill development, social welfare, healthcare, and environment conservation, while the Prime Minister's Relief Fund saw an increase of 139 percent in CSR contribution over last one year.

Market Research

Dec 2018

India's CSR Reporting Survey 2018
KPMG

2017

Vision 2030
Government of Haryana

Feb 2019

The Crisil CSR yearbook 2019
Crisil foundation

FAQ's

Anyone can fund CSR opportunities listed on IIG. The portal helps companies with a CSR mandate in India to identify opportunities and spend 2% of their average net profits over three years on CSR.

No, IIG is simply a project discovery platform to facilitate investor connects. Any further collaboration between the promoters and investors happens outside the platform.

You can express your interest in a particular opportunity by clicking on the 'Connect' button. You would then receive an email consisting of the contact information of the project promoter, following which you can reach out to the promoter directly.

All CSR opportunities on IIG are sourced from state governments, or government-backed agencies and institutions.

All CSR opportunities on IIG have been defined under the CSR mandates by the respective authorities.

Once you register interest in any CSR opportunity, you can connect directly with the project promoter with the contact details sent to you via email. For any further information, you may also reach out to the Invest India point of contact as specified on opportunity page.

Since CSR is a philanthropic initiative aimed at contributing positively to the society, it is merely an expenditure and does not entail any returns or benefits for the investors.

Corporate Social Responsibility in India is governed by Section 135, and sub-section (1) and (2) of section 469 of the Companies Act, 2013.

The amendment notified in the Companies Act, 2013 requires companies with a net worth of INR 500 crore (US $70 million) or more, or an annual turnover of INR 1000 crore (US $140 million) or more, or net profit of INR 5 crore (US $699,125) or more, to spend 2 percent of their average net profits of three years on CSR.

For the purpose of CSR, 'Net Profit' under section 135 is as per section 198 of the Companies Act, which is profit before tax.

No specific tax exemptions have been extended to CSR expenditure per se. Finance Act, 2014 also clarifies that expenditure on CSR does not form part of business expenditure. While no specific tax exemption has been extended to expenditure incurred on CSR, spending on several activities like contributions to Prime Minister's Relief Fund, scientific research, rural development projects, skill development projects, agricultural extension projects, etc., which find place in Schedule VII, already enjoy exemptions under different sections of the Income Tax Act, 1961.

No, The amount spent by a company towards CSR cannot be claimed as business expenditure.

As per the notification dated 23rd March 2021, the Ministry of Corporate Affairs made CSR funding for COVID-19 an eligible CSR activity.

  • a. The CSR projects or programs or activities that benefit only the employees of the company and their families shall not be considered as CSR activities in accordance with section 135 of the Act.
  • b. One-off events such as marathons/ awards/ charitable contribution/ advertisement/sponsorships of TV programmes etc. would not be qualified as part of CSR expenditure.
  • c. Expenses incurred by companies for the fulfilment of any Act/ Statute of regulations (such as Labour Laws, Land Acquisition Act etc.) would not count as CSR expenditure under the Companies Act.
  • d. Contribution of any amount directly or indirectly to any political party shall not be considered as a CSR activity.
  • e. Activities undertaken by the company in pursuance of its normal course of business.

As per the notification dated 23rd March 2021, the Ministry of Corporate Affairs made CSR funding for COVID-19 an eligible CSR activity.

  • a. The activities that can be undertaken include- 'setting up of makeshift hospitals and temporary COVID care facilities', 'creating health infrastructure for COVID care', 'establishment of medical oxygen generation and storage plants', 'manufacturing and supply of Oxygen concentrators, ventilators, cylinders and other medical equipment for countering COVID-19' or similar such activities.
  • b. Contribution to specified research and development projects as well as contribution to public funded universities and organizations engaged in science, technology, engineering, and medicine also qualify as CSR activities.

A company can undertake its CSR activities through a registered trust or registered society as long as

  • a. the Trust/ Society/ Section 8 company etc. is created exclusively for undertaking CSR activities or
  • b. (b) where the corpus is created exclusively for a purpose directly relatable to a subject covered in Schedule VII of the Act.

Disaster relief can cover wide range of activities that can be appropriately shown under various items listed in Schedule VII. For example:

  • a. medical aid can be covered under 'promoting health care including preventive health care.'
  • b. food supply can be covered under eradicating hunger, poverty and malnutrition.
  • c. supply of clean water can be covered under 'sanitation and making available safe drinking water' (may refer to annexure to General Circular dated 18.06.2014).

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