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The Companies Act, 2013 requires every eligible company in India to spend 2% of their profits on CSR activities. The board of the company is entrusted with the responsibility to ensure proper compliance with the requirement. CSR activities, unlike traditional charity, should be carried out in project mode in areas specified in the regulations. The regulations also require the maintenance of a CSR policy & an annual action plan for undertaking impact assessment studies in specified cases.
As a CSR consulting services firm ThinkCap Advisors provides end-to-end CSR advisory services. Our sector experts, comprising of chartered accountants and professionals from the social sector background, assist companies in meeting their CSR obligation by providing end-to-end support through all stages of the CSR life cycle. We have worked with leading companies across industries by providing customized CSR advisory services to help them comply with the regulations.
Our Key CSR Consulting Services
- Preparation of CSR policies, annual action plan and other supporting documents
- Quantification of CSR obligation
- Baseline studies and needs assessment for inclusive CSR programs
- Identifying implementing agencies based on thematic areas shortlisted by the company
- Undertaking due diligence/fact finding reviews of the implementing partners
- Concurrent monitoring of CSR activities
- Impact assessment studies for large projects to aid future strategies
- Advising on tax treatments of CSR spend and suggesting tax-efficient mechanisms
- Advising on year-end reporting of CSR activities as required by the regulations
- Identifying appropriate legal structure for setting up a corporate foundation
- Setting up the corporate foundation along with obtaining necessary registrations required for operations
- Setting up Standard Operating Procedure (SOP) for running the foundation such as project selection, finance disbursement, monitoring etc
- Testing and review of the operating and governance framework
- Assistance in preparation and submission of statutory filings for the foundation
- Accounting & payroll processing for the foundation