Govt amends CSR rules: Corporates can undertake multi-year projects

The government Friday amended various rules pertaining to the corporate social responsibility (CSR) regime, including allowing corporates to undertake multi-year projects and making registration compulsory for agencies implementing CSR activities on behalf of companies.

Besides, companies have been allowed to set the excess amount spent under CSR up to three succeeding financial years. Non-compliance with CSR provisions has been decriminalised by shifting such offences to penalty regime, as per the Corporate Affairs Ministry.

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