Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

PM CARES Fund eligible CSR Activity clarifies MCA

Posted on 29 March 2020,    
 6978 Views   Share Report

To deal with the distress caused by COVID-19 (Coronavirus) people and companies have been contributing to the PM CARES Fund. MCA clarified that such contribution will be treated as eligible CSR activity under the Companies Act 2013. 

eF. No. CSR-05/1/2020-CSR-MCA

5th floor, A Wing, Shastri Bhawan, 
Dr. R.P. Road. New Delhi-110001 

Subject: Clarification on contribution to PM CARES Fund as eligible CSR activity under item no. (viii) of the Schedule VII of Companies Act, 2013.

The Government of India has set up the Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund’ (PM CARES Fund) with the primary objective of dealing with any kind of emergency or distress situation such as that posed by COVID 19 pandemic.

2. Item no. (viii) of the Schedule VII of the Companies Act, 2013, which enumerates activities that may be undertaken by companies in discharge of their CSR obligations, inter alia provides that contribution to any fund set up by the Central Government for socio-economic development and relief qualifies as CSR expenditure. The PM-CARES Fund has been set up to provide relief to those affected by any kind of emergency or distress situation. Accordingly, it is clarified that any contribution made to the PM CARES Fund shall qualify as CSR expenditure under the Companies Act 2013.

3. This issues with the approval of competent authority.

(Gyaneshwar Kumar Singh) 
Joint Secretary to Govt of India 

Copy to:

1. E-Governance for uploading on MCA Website 
2. Guard File

Tags :   


Popular News

Lawsikho Follow taxation Exam20 Book Book

Browse by Category