Can the CSR expenditure be spent on the activities beyond Schedule VII ?

Question

Can CSR be done in kind ? i.e. If a company is in the business of publications of books whether it can donate books for the purpose of CSR ?

Answer 1

MCA vide General Circular No. 21/2014 dated June 18, 2014 has clarified that the statutory provision and provisions of CSR Rules, 2014, is to ensure that while activities undertaken in pursuance of the CSR policy must be relatable to Schedule VII of the Companies Act 2013. However, the entries in the said Schedule VII must be interpreted liberally so as to capture the essence of the subjects enumerated in the said Schedule. The items enlisted in the Schedule VII of the Act, are broad-based and are intended to cover a wide range of activities.