Companies Accounts (Amendment) Rules 2022 

PUBLISHED ON: 18-02-2022

On February 11, 2022, the Ministry of Corporate Affairs notified the Companies (Accounts) Amendment Rules, 2022 (available here),  which inserted Rule 12 (1B) in Companies (Accounts) Rules 2014, thereby amending the manner of reporting CSR activities.

The new Rule 12 (1B) provides that every company which is required to undertake CSR activities as per Section 135(1) shall furnish a Report on Corporate Social Responsibility in Form-CSR 2 to the Registrar of Companies. For the preceding financial year (2020-2021), Form CSR-2 shall be filed separately on or before 31st March 2022, after filing Form AOC-4 or AOC-4 XBRL or AOC-4 NBFC (IND AS) (i.e., the Form for filing Financial Statements of a company).

For the Financial Year 2021-22 onwards, Form CSR 2 shall be filed as an addendum to Form AOC-4 or AOC-4 XBRL or AOC-4 NBFC (IND AS).

Prior to the enactment of these Rules, the reporting on CSR activities undertaken by a company was to be made through the Annual Report on CSR Activities which was included in the Board’s Report.