Corporate Social Responsibility (CSR) is basically a management concept where corporate sector integrates its social and environmental obligations in their business. CSR is general a way through which corporates achieves a balance between their economic, environmental and social responsibilities. Corporate Social Responsibility is not at all a new concept to India. Since ages India is traditionally doing philanthropy and charity for the welfare of the society. In CSR the new thing is ‘Shift in the focus from voluntary social welfare practice to mandate practice’. With the introduction of CSR policy in companies Act 2013, this policy gave new direction to responsibility, now corporate sector shifted its focus from doing mere charity to a main business responsibility. The theory of this policy is based on the fact that not only government is responsible for the welfare of the society but even corporate sector should be similarly responsible to resolve the social issues and problems. This chapter is based on the conceptual aspects of corporate social responsibility, CSR policy, its implementation and its challenges.