S.No. | Eligibility Criteria | Particulars |
---|---|---|
1 | Registered NGO | The applicant should be a registered NGO, such as Section 8 companies, trusts, societies, or NGOs established by the Central or State Government. |
2 | NGO Experience | NGOs should have engaged in permissible social activities for at least 3 years. |
3 | 12A and 80G Registration | NGOs must be registered under sections 12A and 80G of the Income Tax Act. |
CSR-1 was introduced with the sole purpose of bringing transparency in utilization of CSR funds by the companies. Registering with the ROC ensures complete transparency in the transfer of CSR funds.
As mandated by the Companies Act, 2013, only CSR-1 registered NGOs can have access to CSR funding from corporate entities.
NGOs which have access to CSR funds and activities of corporates enjoys higher public image and build goodwill. Donors prefer NGOs with CSR-1 registration.
Registering under CSR-1 demonstrates a commitment to legal compliance and corporate ethics. It allows organizations to fulfill their statutory obligations related to CSR activities under the Companies Act.
CSR-1 registration encourages organizations to think beyond short-term profits and consider the long-term sustainability of their operations.
Since CSR-1 registered NGOs have more access to Corporate funds, which in turn enables the NGOs to take larger CSR projects and expand their operations.