Amendment in the Companies (Accounts) Rules, 2014
Filing of Form CSR-2 for Financial Year 2020-2021 and 2021-2022
The Ministry of Corporate Affairs (MCA) in its efforts to promote the filing of reports on Corporate Social Responsibility in Form CSR-2 by the companies, has issued a notification No. G.S.R. 407(E) dated 31st May, 2022, thereby, amending the Companies (Accounts) Rules, 2014 (“Rules”) [Companies (Accounts) Third Amendment Rules, 2022]. As per the said amendment, the due date for filing of Form CSR-2 for FY 2020-21 has been extended till 30th June, 2022, while the requirement of filing a separate Form CSR-2 for the FY 2021-22 has been extended upto 31st March, 2023 .
The key highlight of the amendment have been provided hereinbelow:
Filing of Financial Statements [Rule 12 (1B)]
Under Rule 12 (1B) of the Rules, the specified date of ‘31st May, 2022’ has been substituted with ‘30th June, 2022’. Furthermore, another proviso has been inserted after the proviso provided under Rule 12(1B), thereby, specifying the timeline within which Form CSR-2 for the Financial Year 2021- 2022 needs to be filed. Accordingly, the Rule shall now read as follows:
“Every company covered under the provisions of sub-section (1) to section 135 shall furnish a report on Corporate Social Responsibility in Form CSR-2 to the Registrar for the preceding financial year (2020-2021) and onwards as an addendum to Form AOC-4 or AOC-4 XBRL or AOC-4 NBFC (Ind AS), as the case may be:
Provided that for the preceding financial year (2020-2021), Form CSR-2 shall be filed separately on or before 30th June, 2022, after filing Form AOC-4 or AOC-4 XBRL or AOC-4 NBFC (Ind AS), as the case may be.
Provided further that for the financial year 2021-2022, Form CSR-2 shall be filed separately on or before 31st March, 2023 after filing Form AOC-4 or AOC-4 XBRL or AOC-4 NBFC (Ind AS), as the case may be”
Impact:
(i) The last date to file Form CSR-2 for the Financial Year of 2020-2021 has been extended, and the same shall be filed separately as an addendum to Form AOC-4 or AOC-4 XBRL or AOC-4 NBFC (Ind AS), on or before 30th June, 2022.
(ii) The last date to file Form CSR-2 for the Financial Year 2021-2022 has been specified as 31st March, 2023, to be filed as an addendum Form AOC-4 or AOC-4 XBRL or AOC-4 NBFC (Ind AS).
IMPACT OF THE AMENDMENT:
The Amendment has extended the deadline for filing Form CSR-2 for the Financial Year 2020-2021 by one month, i.e., from the 31st May, 2022 to 30th June 2022. Furthermore, it has also prescribed the deadline for filing Form CSR-2 for the Financial Year 2021-2022 as 31st March 2023. The amendment has further specified that Form CSR-2 shall be filed separately after filing of Form AOC-4 or AOC-4 XBRL or AOC-4 NBFC (Ind AS), thereby, providing further clarity on the filing procedure.