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CS Professional · CSR and Social Governance · CSR Projects and Implementation Agency

Arvind Steels Ltd approved an ongoing multi-year CSR project. At the close of 31 March 2026, ₹90 lakh allocated to it remained unspent. If the company never spends the amount, by what date must it transfer the remainder to a Schedule VII fund?

The deadline is 30 April 2029. The unspent ongoing-project amount goes to the Unspent CSR Account first and has three financial years to be spent, ending 31 March 2029. Any balance then moves to a Schedule VII fund within 30 days of that date.

  1. A30 September 2026
  2. B30 April 2028
  3. C30 April 2029Correct
  4. D31 March 2029

Explanation

The unspent amount first goes to the Unspent CSR Account within 30 days of the financial year end. It must then be spent within three financial years (2026-27, 2027-28, 2028-29), ending 31 March 2029. Any balance is transferred to a Schedule VII fund within 30 days after that, which is 30 April 2029. The date 30 September 2026 is the six-month rule for non-ongoing projects.

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