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    Question

    According to the new rules (made in Septā€™22) of

    Companies (Corporate Social Responsibility Policy) Amendment Rules, 2022, the expenditure for social impact assessment included in CSR spending cannot exceed______ of total CSR expenditure for the relevant fiscal year or Rs. 50 lakh, whichever is greater.
    A 3% Correct Answer Incorrect Answer
    B 5% Correct Answer Incorrect Answer
    C 2% Correct Answer Incorrect Answer
    D 6% Correct Answer Incorrect Answer
    E 7% Correct Answer Incorrect Answer

    Solution

    Explanation: Provisions of the New CSR Rules i.According to the CSR rules, companies are required to establish a ā€˜CSR Committeeā€™ to oversee the implementation of their CSR obligations if they have any funds in their ā€œUnspent Corporate Social Responsibility Account.ā€ ii.According to the new rules, expenditure for social impact assessment that can be included in CSR spending cannot exceed 2% of total CSR expenditure for the relevant fiscal year or Rs. 50 lakh, whichever is greater. ā€¢ Prior to the amendment, the rules only permitted up to 5% of total CSR spending or Rs. 50 lakh, whichever is less.

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