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CS Professional · Environmental, Social and Governance (ESG) - Principles and Practice · Corporate Social Responsibility (CSR)

Tulsi Foods Ltd. has an ongoing CSR project and Rs 80 lakh of the FY 2025-26 CSR amount remains unspent against it, subject to the prescribed conditions. What does Section 135 require?

The unspent amount for an ongoing project must go to a special Unspent CSR Account in a scheduled bank within thirty days of year end. It must be spent within three financial years from transfer, otherwise moved to a Schedule VII Fund within thirty days after the third year.

  1. ATransfer to the Unspent CSR Account within thirty days of year end, to be spent within three financial years from the transfer date, failing which it goes to a Schedule VII FundCorrect
  2. BTransfer to a Schedule VII Fund within six months
  3. CTransfer to the Unspent CSR Account within six months, to be spent within one year
  4. DRetain the amount in the company's current account and spend it whenever convenient

Explanation

Section 135(6) requires transfer to the Unspent CSR Account within thirty days of the end of the financial year, spending within three financial years from the transfer, and failing that transfer to a Schedule VII Fund within thirty days of completion of the third year.

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