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Sec 135

Mam we should treat the surplus in any one of the following by end of FY within 6months. But for preparation of FS it will take sometime right... How the period of 6months is justified. It is likely to be less than 6months right?

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Sugam SM

Sugam SM

CA Inter

4K+

23-Sep-22

66

Answers (2)

Good Question. Sec 96 says AGM should be held within 6 months from end of FY ( Extension 3 months possible). Accordingly, First FS will be prepared by the Company's accountant, then approved by Board, then Audited and then Approved by Members in AGM. Sec 137 says FS should be filed with ROC within 30 days after AGM/Last date of holding AGM. So the same time of 6 months from the end of FY is allowed for CSR adjustment in Sec 135 and Rules as required to prepare FS and get it approved by members. It works hand in hand. Generally, at the time the FS is prepared, the board/CSR Committee decide and adjust CSR amount that needs to be trasfered to the fund and accordingly it's reflected in FS.


CA YOGITA HARJANI

CA YOGITA HARJANI

Faculty

23-Sep-22

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