Should a company open a separate ’Unspent CSR Account’ for each ongoing project?

Should a company open a separate ’Unspent CSR Account’ for each ongoing project?

No, a company can open a single special account, called ‘Unspent Corporate Social Responsibility Account’, for a financial year in any scheduled bank, to transfer the unspent amount w.r.t ongoing project(s) of that financial year. A company needs to open a separate ’Unspent CSR Account’ for each financial year but not for each ongoing project.

Posted on: 2 years ago