CA Daily Study Update Group

1. A Ltd. has constituted a Corporate Social Responsibility (CSR) Committee of the Board pursuant to Section 135 of the Companies Act, 2013. The CSR Committee has formulated and recommended to the Board a CSR Policy and has recommended the amount of expenditure to be incurred on the specified activities which shall be recognized as CSR spending. CA H observed that an amount of ` 20 lacs was unspent in respect of other than on-going projects relating to the CSR spending. CA H is exploring his reporting responsibilities for compliance under CARO, 2020. With regard to the unspent amount of ` 20 lacs, out of the following select the appropriate reporting responsibilities of M/s HG & Co. for compliance of CARO 2020: (a) Whether the company has transferred the unspent amount of ` 20 lacs to a Fund specified in Schedule VII to the Companies Act within a period of six months of the expiry of the financial year. (b) Whether the company has transferred the unspent amount of ` 20 lacs to a Fund specified in Schedule III to the Companies Act within a period of six months of the expiry of the financial year. (c) Whether the company has transferred the unspent amount of ` 20 lacs to a Fund specified in Schedule VII to the Companies Act within a period of three months of the expiry of the financial year. (d) Whether the company has transferred the unspent amount of 20 lacs to a Fund specified in Schedule III to the Companies Act within a period of three months of the expiry of the financial year. JOIN US AT AUDIT📚 Channel: @CAFINALAUDITNOTE 👥 Group: @CA_FINAL_AUDIT Join us at Chartered Achievers ❤️ Channel & Group Join - CA FINAL TARGET GROUP