What is the meaning of any financial year as per the section 135(1) of the Companies Act, 2013? By -Rishabh Jain 04 Mar 2017 Post Answer The provisions related to Corporate Social Responsibility under section 135 of the Companies Act, 2013 was made effective from April 1, 2014. Subsequently, MCA vide its circular no. 21 of 2014 dated 18.06.2014 clarified that Any Financial Year referred under section 135(1) of the Companies Act, 2013 read with Rule 3(2) of the Companies CSR Rules, 2014 implies any of the three preceding financial years. However applying the principles of interpretation of statute, it can be argued that unless otherwise specified by express words in the Statute, the section should be made applicable from a prospective date and not retrospectively. Accordingly, a view may be taken that the circular may be contrary to the legislative intent on applicability of CSR provisions on a Company as per sub-section 1 of section 135.