Good evening sir
As you told that csr includes the activities done in the normal course of business from the amendments of August 2021 so if academy providing free revision lectures will also be included in csr or not??
Firstly, as per amendment in companies Act,2013 CSR does not include the activities undertaken in pursuance of normal course of business of the company provided that any company engaged in research and development activity of new vaccine, drugs and medical devices in their normal course of business may undertake research and development activity of new vaccine, drugs and medical devices related to COVID-19 for financial years 2020-21, 2021-22, 2022-23 subject to the conditions that-
(a) such research and development activities shall be carried out in collaboration with any of the institutes or organisations mentioned in item (ix) of Schedule VII to the Act;
(b) details of such activity shall be disclosed separately in the Annual report on CSR included in the Board’s Report;
Secondly, presuming that academy providing free revision lectures is a company and falls under the CSR applicability criteria as specified in section 135, the activity i.e providing free revision lectures will not be included in CSR. They have to spend the CSR amount on activities as mentioned in schedule VII.
by Shubhamm Sir
at 11-Nov-2022 12:59 AM