National CSR Exchange Portal is an initiative of Ministry of Corporate Affairs. The National CSR Exchange Portal as a PAN based E-Marketplace for CSR stakeholders in which the implementing agencies and the CSR spending companies can work together.
The National CSR Exchange Portal has been launched in the year 2022 itself.
What was the need of National CSR Exchange Portal?
One of the major challenges faced by corporates in the implementation of CSR Policy is to find suitable CSR Implementing Agency. The exchange portal helps corporates to file suitable Implementing Agencies for the successful implementation of their CSR Project reducing the transaction cost.
Along with finding a suitable Implementing Agency, CSR Exchange portal helps identify the suitable CSR Projects based on Corporates CSR policy.
Eligibility Criteria for registration on National CSR Exchange Portal;
Implementing Agency;
An Implementing Agency who is registered with MCA21 and has a valid CSR Registration Number (CRN) is eligible to register on the portal.
Whether all three types of entities – a company established under section 8 of the Act, or a registered public trust, or a registered society, are required to have income-tax registration u/s 12A as well as 80G of the Income Tax Act, 1961?
Yes, as per rule 4(1) all three types of entities – a company established under section 8 of the Act, or a registered public trust, or a registered society are required to have income-tax registration u/s 12A as well as 80G of the Income Tax Act, 1961 to act as implementing agency, except for any entities established by Central or State Government.
Corporates;
The corporates registered on MCA21 portal and has a valid CIN are eligible to register on the portal.
Whether CSR provisions of the Companies Act, 2013 is applicable to all corporates?
A corporate satisfying any of the following criteria during the immediately preceding financial year is required to comply with CSR provisions specified under section 135(1) of the Companies Act, 2013 read with the Companies (CSR Policy) Rules, 2014 made thereunder:
(i) Net worth of rupees five hundred crore or more, or
(ii) Turnover of rupees one thousand crore or more, or
(iii) Net profit of rupees five crore or more.