Quick Summary
The Ministry of Corporate Affairs has clarified thatspending of CSR funds for COVID-19 vaccination for persons other than the employees and their families is considered to be an eligible CSR activity under items no (i) and (xii) of Schedule VII of the Companies Act, 2013. Read the official announcement issued by ICAI in this regard, below: Corporate Laws Corporate Governance Committee The Institute of Chartered Accountants of India 31st July, 2021 ANNOUNCEMENT Sub: Clarification on s
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FAQ :
Yes, the Ministry of Corporate Affairs has clarified that spending CSR funds for COVID-19 vaccination is an eligible CSR activity.
CSR funds can be used for COVID-19 vaccinations for persons other than the employees and their families.
Spending on COVID-19 vaccination for non-employees is eligible under items no (i) and (xii) of Schedule VII of the Companies Act, 2013.
The Ministry of Corporate Affairs issued its latest clarification on 30th July, 2021.
Yes, companies must undertake the activity subject to the fulfillment of the Companies (CSR Policy) Rules, 2014 and relevant circulars from the Ministry.
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