Due date for filing form CSR-2 for FY 2023–24?

It’s not a joke.

I was banking on March 31, 2025, as the deadline for CSR-2 filing…

until I discovered there’s no MCA extension this year! ??

But the Good news???

This realization sent me researching on Friday night.

Here’s what I found:

A.??? What is the due date for filing form CSR-2 for FY 2023–24?

B.??? Whether CSR-2 shall be filed on MCA V3 or MCA V2?

C.?? What are the late filing fees for delays in CSR-2?

D.?? What are the consequences of the delay in filing CSR-2?

Now before we answer the questions, just a brief background on CSR provisions:

Companies covered:

Every company having:

• net worth of rupees five hundred crore or more, or
• turnover of rupees one thousand crore or more or
• a net profit of rupees five crore or more

during the immediately preceding financial year shall constitute CSR committee

Side Note:

?Where the amount to be spent by a company does not exceed fifty lakh rupees, the requirement for constitution of the Corporate Social Responsibility Committee shall not be applicable and the functions of such Committee provided under this section shall, in such cases, be discharged by the Board of Directors of such company.

To understand the due date of CSR-2 for FY 2023–24, let’s go through the following MCA amendment.

On 11th February, 2022, MCA introduced Companies (Accounts) Amendment Rules, 2022

Through the amendment rules, In Companies (Accounts) Rules, 2014 in rule 12, after sub-rule (1A), the following sub-rule was inserted, namely: -

“(1B) Every company covered under the provisions of sub-section (1) to section 135 shall furnish a report on Corporate Social Responsibility in Form CSR-2 to the Registrar for the preceding financial year (2020-2021) and onwards as an addendum to Form AOC-4 or AOC-4 XBRL or AOC-4 NBFC (Ind AS), as the case may be:

Provided that 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), as the case may be.”

Meaning?

It meant that CSR-2 was supposed to be an addendum to AOC-4 however an extension for FY 2020-21 was given whereby it could be filed separately with further extension till 30th June, 2022.

Then MCA brought another notification…

MCA vide its notification dated 31st May, 2022 granted extension for the financial year 2021-2022, whereby the ?Form CSR-2 was to be filed separately on or before 31st March, 2023 after filing Form AOC-4 or AOC-4 XBRL or AOC-4 NBFC.

Further MCA vide its notification dated? 31st May, 2023 granted extension for the financial year 2022-2023, whereby the ?Form CSR-2 was to be filed separately on or before 31st March, 2024 after filing Form No. AOC-4 or Form No. AOC-4-NBFC (Ind AS), as specified in these rules or Form No. AOC-4 XBRL as specified in the Companies (Filing of Documents and Forms in Extensible Business Reporting Language) Rules, 2015.

If you skipped the above para, here is a quick summary of it!

Thus, the CSR-2 compliances look as follows:

Did you read rule 12 (1B)?

As per the above-mentioned rule, we can interpret that CSR-2 was supposed to be:

• An addendum to AOC-4.
• For the financial year 2020–21, Form CSR-2 is to be filed separately.
• For the financial year 2021–22 onward, CSR-2 was required to be filed as an addendum

However, MCA has not yet made the necessary amendments to AOC-4 that would allow us to file CSR-2 as an addendum. Therefore, till date, companies were filing CSR-2 as a separate form.

Can you derive it?

Therefore, until now, as you can see, MCA has not yet introduced the option to file CSR-2 as an addendum to AOC-4 hence you might have to file CSR-2 separately.

Timeline for filing?

• As per our initial observation of Sub-rule (1B) of Rule 12 of the Companies (Accounts) Rules, 2014, CSR-2 is an addendum to AOC-4.
• Therefore, the due date of CSR-2 can be considered the same as the due date of AOC-4, i.e., 30 days from the date of the AGM.
• MCA had given extensions for FY 2021–22 and 2022–23 until March 2023 and March 2024. However, MCA has not given any extension for FY 2023–24; therefore, the due date of CSR-2 for FY 2023–24 will be considered as 30 days from the date of the AGM!!

Whether CSR-2 shall be filed on MCA V3 or MCA V2?

• Seeing the discussions in numerous forums and groups suggest that the transfer of AOC-4 from the MCA V2 Portal to the MCA V3 Portal will be possible before September 30, 2024.
• If it happens, there are good chances that CSR-2 will become an addendum to AOC-4 and be filed on the MCA V3 Portal.
• However, In the MCA V2 version, web-based CSR-2 forms are available for filing.

The good news?

Late filing fees for delays in CSR-2

You can file CSR-2 on the MCA V2 portal without incurring any fees. Even if you file CSR-2 after its due date, there are no additional fees.

So you should not file it on time right?

The consequences of the delay in filing CSR-2!

There is no separate penalty specified in the rules for the non-filing of the form. Therefore, penalty as per section 450 shall be applicable.

Section 450 of the Act:

if a company or any officer of a company or any other person contravenes any of the provisions of this Act or the rules made thereunder, and for which no penalty or punishment is provided elsewhere in this Act, the company and every officer of the company who is in default or such other person shall be liable to:

• a penalty of ten thousand rupees,
• and in case of continuing contravention, with a further penalty of one thousand rupees for each day after the first during which the contravention continues,

subject to a maximum of two lakh rupees in case of a company and fifty thousand rupees in case of an officer who is in default or any other person.

With warm regards,

Keep Smiling,

Saeed Shaikh

FOOTNOTES

1.??? https://www.mca.gov.in/content/mca/global/en/acts-rules/ebooks.html#

Special Thanks

I want to give a special thanks to Anshra. This article wouldn't have been possible without her guidance, support, and encouragement. Her constant support and motivation inspires me to share these insights.