The Ministry of Corporate Affairs vide its notification dated 28th March 2020 has clarified that any contribution made by corporate towards PM-CARES Fund will be considered as Corporate Social Responsibility expenditure under the Companies Act 2013.
The PM-CARES fund has been set up to provide relief to those affected by emergency or distress situation. CSR funds could be utilized for various activities related to COVID-19, including those related to preventive healthcare and sanitation.
Click here to read the Notification.
