MCA revises timeline for complying with new reporting requirement for companies required to fulfil CSR obligations for FY 2020-2021 and use accounting software for maintaining their books of account

The Ministry of Corporate Affairs (“MCA”) had introduced filing under Form CSR-2 to be completed by 31st March, 2022 for the financial year 2020 – 2021, now with the Companies (Accounts) Second Amendment Rules, 2022(Amendment) the time for filing has been extended till 31st May, 2022.

Additionally, the Amendment has extended time from 1st April, 2022 by a year to 1st April for every company which uses accounting software for maintaining its books of account, to only use such accounting software which has a feature of recording audit trail of each and every transaction, creating an edit log of each change made in books of account along with the date when such changes were made and ensuring that the audit trail cannot be disabled.

Source: Ministry of Corporate Affairs